IOHK announces Hydra protocol to increase Cardano network scalability

IOHK announced the release of Ouroboros Hydra (Hydra) agreement, an off-chain agreement created by the IOHK team and the University of Edinburgh's DLT Research Lab. The team spent five years creating Hydra. It is reported that Hydra can provide higher scalability for the Cardano network, while ensuring low latency and minimal data storage per node. It will also allow developers to build various DApps for processing small payments, voting, and more. Note: The Hydra white paper states, "Hydra is a fast isomorphic state channel. As a two-tier capacity expansion solution, it is used to improve the scalability of the blockchain and improve the block delay problem. Hydra can simplify off-chain Agreements and contracts. "