Charles Hoskinson is the founder and CEO of Cardano. Cardano is an open-source and decentralized with consensus achieved using proof of stake. It can also facilitate peer-to-peer transactions with its internal cryptocurrency. Cardano is also the largest cryptocurrency to use Proof-of-State Blockchain. It is a Better and greener alternative to Proof-of-Work Protocols. PAB or Putus Application Backend will be coming online. Which will lead to an overflow of traffic in Cardano. Hydra, the newest development from Alonzo which will be a great help in handling the excess traffic.
Hoskinson during the Latest AMA session shared a few details about the new ERC-20 Cardano Converter Bridge. It is an important piece of technology that allows users to bridge the gap between those who use Cardano with those who do not. SingularNET will be the first token that is migrating to Cardano. Ethereum-based token users will now be able to take full advantage of the vast transaction capability Cardano Offers. Along with lower fees. Furthermore, Hoskison added the next token to undergo the migration is Mamba.
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Another feature everyone is eager for is the Plutus Application Backend. It is an Off-chain backend service for managing the application instance through its lifecycle. It is estimated to be out by November. PAB will be a game-changer for developers as it is a way for them to interact with smart contracts.
The Star Of The Show Hydra
Hoskinson claimed, with Hydra they will be able to offload large amounts of transition traffic. That is going to come from all the apps that are coming soon. As Plutus comes online, Cardano is going to get hammered by an enormous amount of traffic. Hydra is a Necessity for that. Even though Cardano is one of the leading institutions in the business. They are no stranger to criticism. During an interview, someone raised the issue of not increasing the Block Size. But not increasing the amount of Plutus Smart Contracts per Block. Further insinuating whether there is any FUD. (Fear, Uncertainty, or Doubt) regarding the matter.
Charles was quick to respond saying the accusation is baseless. He explained how, if you increase the raw amount of storage a block has, one can of course have more scripts with larger block sizes. These mere accusations will not hold Cardano back. They were named one of the most influential projects of 2021. And will continue to go above and beyond all expectations. They are sure to do great things in the future and all of them will be reported right here on The Global Network
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Stay Tuned with Global Coverage for Future Updates on Charles Hoskinson & Hydra.