No, Cardano (ADA) Hydra Cannot Handle 1 Million TPS, Developer Says
As Cardano's (ADA) community welcomes the launch of its pioneering L2 Hydra on mainnet, a discussion happened about its actual bandwidth and tech performance specifications. A seasoned developer shared his views on narratives that surround the release of the major solution.
Million transactions per second for Cardano's Hydra: Accomplishment or myth?
Hydra, a second-layer scaler for Cardano's (ADA) PoS network, cannot process 1 million transactions per second. This narrative should not be spread, says Cardano Foundation's Tech Director Matthias Benkort.
Benkort, also known as KtorZ on Twitter and GitHub, responded to a statement by Cardano (ADA) community enthusiast and ADA staking pool operator Marco Meerman today, May 13, 2023.
The CF director called this narrative "misleading" and recommended to only refer to the Hydra performance statistics published by Input Output Global, Cardano Foundation or the Hydra team itself.
However, some enthusiasts of Cardano (ADA) disagreed with Benkort and announced that even a 2 million TPS bandwidth should be the endgame goal of Hydra's progress.
Much-anticipated Hydra is live on Cardano (ADA) mainnet
As covered by U.Today previously, the first iteration of the Hydra L2 solution launched on mainnet yesterday, May 12, 2023. The activation of the first-ever mainnet-compatible Hydra node was confirmed by developer Sebastian Nagel.
Alex DovbnyaEarlier this year, the opportunities of Cardano's Hydra were demonstrated at live sessions with tech experts. The solution is expected to scale Cardano (ADA) to give it an opportunity to surpass other mainstream proof-of-stake (PoS) blockchains in terms of computational capacity.
Hydra's next iteration dubbed v0.11.0 is already in the making, Nagel added.
As explained by Hydra developers, its isomorphic architecture is poised to bring robust capabilities, interfaces retaining the battle-tested safety of the Cardano (ADA) main ledger.
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Godfrey Benjamin‘Rich Dad Poor Dad’ Author’s Huge Bitcoin 2024 Predictions, Here’s Where They Ended Up
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Popular investor, entrepreneur and book author Robert Kiyosaki, known for his classic book on how to manage one’s finances, “Rich Dad Poor Dad,” has issued a celebratory tweet, congratulating the global crypto community and himself on Bitcoin making it above $100,000.
Kiyosaki's big Bitcoin predictions throughout 2024 that never happened
Throughout this year, Kiyosaki, who many believe to be a financial guru, made bold predictions about when Bitcoin would overcome the $100,000 level. First, he predicted Bitcoin would skyrocket to $100,000 in September – he stated that in his tweet published on March 25.
Then, he tweeted that Bitcoin would overtake $350,000 in August based on the post Bitcoin-halving effect and expecting the Fed Reserve to bring down the key interest rate. Neither of these optimistic predictions eventually came through, though.
Finally, on the day when Bitcoin set a record peak above $98,000, Kiyosaki tweeted that $100,000 would be reached the following day.
Kiyosaki’s predictions for 2025 are even bolder, however. Based on AI-data, he expects BTC to reach a whopping $500,000 next year and then a jaw-dropping $1 million in 2030 as the financial markets will be disrupted by artificial intelligence, he believes.
The biggest Bitcoin price he has so far reached was $13 million per one Bitcoin, when the "Rich Dad Poor Dad" author tweeted that he agreed with MicroStrategy founder Michael Saylor that Bitcoin would reach that high 10 years from now, taking away part of gold’s market capitalization. However, Kiyosaki warned that he would stop buying Bitcoin once the $100,000 mark is left behind. As of today, he would perhaps stop accumulating in this case.
Yuri MolchanTop VC Anthony Pompliano: "Welcome to next phase of Bitcoin game"
Anthony Pompliano (widely known as simply “Pomp”), a Bitcoin podcaster and founder of Pomp Investments fund that supports cryptocurrency startups, has spoken out of the new Bitcoin all-time high reached earlier today at the $103,900 level.
Pompliano referred to it as a “psychological milestone.” The investor believes that “every boomer” now, who had rejected Bitcoin before that, “is waking up to headlines tomorrow and then going to buy some bitcoin just in case they were wrong.” Pomp believes that Bitcoin has reached “the next level of the game” now, after surpassing $100,000.
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The digital currency ecosystem is on the edge as the price of Bitcoin crossed the $100,000 milestone. At the time of writing, the coin was changing hands for $102,668, up by 3.68% in 24 hours. Following this historic move, Bitcoin advocate Samson Mow has set an ambitious price target of $1 million for the coin.
Bitcoin-to-$1 million journey
It took Bitcoin exactly 15 years since its inception to record the $100,000 milestone. Since the coin was changing hands at half the current price, Samson Mow has always expressed confidence in its potential to hit the $1 million mark.
The indices point to the possibility of this projection. First, the Bitcoin halving event in April this year has created intense scarcity for the coin. With an average of 450 Bitcoin units mined daily, the supply is insufficient to sustain the current demand.
The demand for Bitcoin is growing in different ways. Business intelligence and software firm MicroStrategy has continued to accumulate Bitcoin. In its latest move, the Michael Saylor-led company acquired 15,400 BTC for $1.5 billion, bringing its total holdings to 402,100 BTC.
Other firms like Metaplanet and Semler Scientific have also borrowed a leaf from MicroStrategy. This demand source may also soar if Microsoft buys Bitcoin, drawing on Saylor’s pitch to the company.
Spot Bitcoin ETF advantage
Besides acquiring the coin from the open market, many American investors are now gaining exposure to Bitcoin through spot Bitcoin ETF products.
This embrace has pushed the BlackRock Bitcoin ETF product to cross the historic $50 billion Assets Under Management (AUM). The asset management firm has continued to welcome inflows as the hype in the industry has fueled sentiment across the board.
With these key adoption channels, it becomes easier for Bitcoin to breach the projected $1 million milestone as scarcity builds.
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