Key Points:
- Charles Hoskinson’s dossier of source material supports Cardano’s throughput claims.
- Cardano’s transaction per transaction model differs from traditional TPS metrics.
- A comparison with Solana sheds light on Cardano’s unique strengths.
Charles Hoskinson, the founder of Cardano, has addressed the controversy surrounding his previous statements about Hydra’s throughput. The crypto community has been critical of his bold claims that Hydra could achieve a throughput of over 1 million transactions per second (TPS).
In the face of criticism and accusations of dishonesty, Hoskinson has broken his silence and firmly asserted that all his statements are backed by credible sources.
Hoskinson Sets the Record Straight
In a recent Twitter exchange on October 5th, Charles Hoskinson took a proactive stance to address the accusations regarding Hydra and Cardano’s throughput. He provided a dossier of official source materials dating back to 2020, aimed at substantiating his earlier assertion that the Layer-1 protocol could potentially boost Cardano’s throughput to over 1 million TPS.
Hoskinson revealed that the mentioned TPS number was more of a hypothetical scenario based on the idea that every Stake Pool Operator (SPO) on the Cardano network would independently run a Hydra head. This theoretical setup could theoretically enable the network to reach a peak of 1 million TPS, with each head achieving speeds of 1000 TPS.
Furthermore, Hoskinson presented TPS charts from Cardano engineers, demonstrating the simulated throughput of Hydra Heads operating at approximately 1000 TPS. To strengthen his position, he also referenced various research papers and respected journals, emphasizing that his claims were supported by a wealth of source material, including blog posts, simulations, and contributions from reputable individuals.
Hoskinson Expresses Frustration
Charles Hoskinson expressed his frustration with the barrage of criticism and negativity directed at him. He went on to clarify that the traditional TPS metric did not apply to Cardano, as the network operated on a “transaction per transaction” basis. Therefore, using the TPS metric to evaluate Cardano’s performance was not appropriate.
Despite this distinction, Hoskinson highlighted that Cardano continued to support significant activities such as large NFT drops, decentralized exchange (DEX) transactions, Oracle transactions, the execution of complex smart contracts, and more.
Comparing Cardano to Solana, he noted that while Solana was known for its high throughput, it faced challenges related to data storage. Solana’s network had grown to over 200 terabytes due to its emphasis on throughput and could potentially reach a petabyte if it continued on the same trajectory.
Why It Matters
In the cryptocurrency community, transparency and accountability are highly valued. Charles Hoskinson’s clarification is significant in addressing the misinformation surrounding Hydra and ensuring that Cardano’s development and performance are accurately understood.
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Disclaimer: Please note that the viewpoints and perspectives expressed by the author, as well as any individuals referenced in this article, are intended solely for informational purposes. They should not be construed as financial or investment advice. It’s important to acknowledge that investing in or trading cryptoassets carries inherent financial risks.
