IOHK CEO Charles Hoskinson revealed that the next-generation Shelley agreement called "Hydra" will be released sometime in February this year. Hoskinson claims that the protocol is at least 5 times faster than Ethereum. IOHK senior project manager David Esser has previously stated that Hydra's development is nearing completion. The protocol will essentially ensure that users can "run multiple versions of the consensus algorithm in parallel". To make Cardano a successful smart contract platform, according to Hoskinson, one of the most important attributes is that it should have a "good multi-asset standard". Just like Ethereum has ERC-20, ERC-721 token standards, he said that the Cardano ecosystem should also provide "competitive products" for those who wish to issue assets.