Cardano founder Charles Hoskinson said the network has “a lot to offer” for its next stage of development, including important advances in decentralized finance (DeFi).
In that context, Hoskinson acknowledged criticism of Cardano over current indicatorsbut defended the project’s approach.
“A lot of people criticize us on metrics. They say we don’t have enough monthly active users or that our TVL (Total Value Locked) is low compared to others. And we’re the first to admit that we were slow. But we were slow on purpose because we prioritized safety and a rigorous approach,” he said.
As he explained in an interview, that scenario is starting to change. “We are introducing Bitcoin DeFi, we are introducing XRP DeFi, and our Midnight network connects us to all the other networks. What we are offering is privacy at all those connection points. “We have a lot to offer,” he claimed.
As detailed by CriptoNoticias, Midnight is Cardano’s sidenet It aims to provide selective privacy through zero-knowledge proofs (ZK proofs). This allows you to protect sensitive information without compromising security or compliance.
The project also gained relevance with the participation of Google Cloud, which will collaborate by operating critical infrastructure and validation nodes. This is support that strengthens Midnight’s institutional plans within the Cardano ecosystem.
This component is key to the DeFi vision in Bitcoin and XRP mentioned by Hoskinson. This is because this component acts as a bridge that enables financial interactions between different ecosystems while increasing confidentiality.
The importance of Hydra in Cardano’s future
Similarly, Hoskinson said: “Additionally, Hydra is now scaling and achieving up to 60x performance improvements, so we are ready for what’s to come.”
Hydra is Cardano’s Layer 2 scaling solution, designed to significantly increase the network’s transaction capacity without compromising security.
Its importance lies in the following facts: Enables you to handle high volume DeFi operations quickly and efficiently.
In other words, Hoskinson sees Hydra as key to his plan to integrate DeFi from Bitcoin, XRP, and other networks through Midnight. This solution will enable Cardano to process large volumes of transactions quickly and efficiently, allowing the platform to support ecosystem growth without bottlenecks.
(Tag translation) Cardano (ADA)
