Caldano announced the Hydra protocol last year and has continued to evolve since then, with the project adding smart contract capabilities locally in 2021. Caldano, including DeFi, now provides insight into the Hydra protocol and the team's progress in scaling it.

Nine-headed Serpent evolved

In a recent report posted on the official website, IOG, the developer behind Cardano, provided more information about the work currently being done on the Hydra project.

Hydra was created by the Ouborous team with the goal of reducing transaction times. The solution to increase transaction volume and provide a cost effective solution without sacrificing storage resources continues to evolve.

Hydra is now a full proof-of-concept protocol, which was not the original plan. "A clearer use of the Probate MVP"

Due to the existence of different Hydra Heads, as it relates to Cardano and other blockchains and other powerful network layers between smart contracts that drive the Hydra Head cycle, it acts as a scale ledger. Network.

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Using the consensus algorithm inherent in the protocol, all participants in the transaction need to agree to be allowed to operate, thus providing a level of security.

"The result is that, as participants, we can't waste our money and we haven't reached a clear agreement on what to lose. Why? Because a valid deal requires our explicit approval," the report says.

Caldano moves into millions of TPS

One of Cardano's selling points is the number of transactions it can process per second. the Cardano network's proof of equity is faster than its biggest competitor, ethereum. The project is focused on increasing TPS. however, that's not all. About Ninth Head Serpent

While TPS may seem important, the report notes that it is the least important metric used for comparison because each transaction can come in different shapes and sizes. Yes blockchains are working to improve scalability. "But scalability has nothing to do with millions of TPS."

Rather than focusing on TPS, the report says it's better to focus on throughput, completion and concurrency because these metrics can be ranked in a larger picture, with the three metrics representing volume, speed and work that can be done, respectively, the report says.