Cardano (ADA) co-founder Charles Hoskinson has recently addressed concerns about the success of Hydra, the layer 2 scaling solution for the Cardano blockchain. In a video, Hoskinson explained that measuring the network’s activity by transactions per second (TPS) alone might be misleading, as a single Cardano transaction can encompass multiple outputs. He also revealed that Hydra has developed middleware for developers to build incorporates applications (dApps) for the blockchain network chain. Despite recent concerns, decentralized finance (DeFi) activity on Cardano continues to grow. According to data from DeFiLlama, the total value of assets locked (TVL) on Cardano has surged by over $10 million this month to $162.1 million as of press time. This growth mirrors the uptrend in DeFi activity on the network throughout the year as more traders embrace decentralized applications built on the blockchain.

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Information	Details
Geography	Global
Countries
Sentiment	neutral
Relevance Score	8
People	DeFiLlama, Plutus, Charles Hoskinson
Companies	Flickr, DeFiLlama, Plutus, Cardano, Web Summit
Currencies	None
Securities	None