Charles Hoskinson, the Founder of the Cardano blockchain, has highlighted two key innovations within the protocol that have the potential to drive the growth of global finance.

Cardano's Hydra and Leios: The Game-Changers

In response to a post by Dedium, a Decentralized GPU Computing Network on Cardano, Charles Hoskinson emphasized the beauty of Cardano's scalability and low-cost transactions. Dedium's post showcased a single block containing 8 transactions billed for 1600 unique recipients, with a transaction fee of only 5.16 ADA or approximately $2.38. This example demonstrates Cardano's ability to handle complex and widespread transactions efficiently.

Hoskinson noted that the goal is to exponentially increase Cardano's scalability and low-cost concept. To achieve this, he highlighted Cardano Hydra and Leios as the key innovations that will drive this growth.

Cardano Hydra is the primary scalability tool that the blockchain has been developing for years. It bundles transactions together, processes them offline, and synchronizes them online later. This system aims to prevent network congestion and allows for simultaneous transaction processing on the chain.

The Cardano Ouroboros Leios is designed to bring additional efficiency to the network's scalability and performance. By combining the strengths of Hydra and Leios, Charles Hoskinson is confident that a global-scale financial operating system can be built on Cardano.

Cardano's Ranking and Future Potential

Cardano has maintained its position as one of the most developed protocols in the Web3 world, ranking ahead of Ethereum (ETH) and other rivals in terms of developer activity on GitHub. However, Solana (SOL) is considered a faster protocol when compared to Cardano.

The ultimate goal for blockchain networks is to compete with legacy financial networks like Visa and Mastercard in funds transfer. While the enthusiasm is evident among Web3 innovators, the Transaction Per Second (TPS) record of these protocols still remains below par. With Charles Hoskinson's optimism and the introduction of Hydra and Leios, the blockchain world appears to be moving closer to toppling traditional payment powerhouses in the near future.