Cardano Founder Hints At What Next For Network Amid Peras Release

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As a seasoned researcher and blockchain enthusiast who has been closely following the Cardano network since its inception, I find it intriguing to see Charles Hoskinson hint at potential improvements for the platform, particularly regarding validation zones following the Peras upgrade. This development seems to be a long-awaited enhancement that could significantly boost the network’s performance, as suggested by Cardano blockchain developer Andrew Westberg.

Charles Hoskinson, the founder of Cardano, has shared his thoughts on what might be the next significant update for the network, following the presentation of the Ouroboros Peras protocol. This revelation came after Hoskinson acknowledged that this potential upgrade has been delayed for some time, stating it will significantly enhance the performance and capabilities of the Cardano network.

Cardano Founder Hints At What Next For Network

Charles Hoskinson suggested, in a recent post on X, that Cardano developers might soon implement an update focusing on validation zones, after the Peras upgrade. This suggestion was made following his agreement with Cardano blockchain developer Andrew Westberg, who emphasized this update should be a top priority for Cardano’s development team.

The Cardano founder said Westberg was correct as this upgrade is a long overdue enhancement that will “massively improve” the network. Westberg stated in an X post that the Cardano Improvement Proposal (CIP) is an “elegant solution” to many long-standing issues. He added that this proposal will introduce composability and ‘Babel Fees’ on the network.

The Cardano developer noted that this solution would enable the eUXTO model to truly excel and function smoothly. Additionally, Westberg unveiled a GitHub page offering additional details about the upcoming modifications. As per the page, these alterations will primarily focus on adjustments related to validation clusters.

Validation zones are areas designed for transactions with some degree of flexibility or incompleteness. In the scenario of Babel-fees, these zones would facilitate transactions that only provide a portion of a swap request.

Just a few days after Cardano’s founder defended his network amidst increasing criticism, we see this latest announcement about the CIP and potential network upgrade. Hoskinson is confident that transitioning into the Voltaire era will tackle persistent issues within the network. Furthermore, he mentioned that critics may not fully grasp the blockchain’s development path and the necessary changes for growth.

The Unveiling Of The Ouroboros Peras Protocol

The proposed enhancement to the validation zones arises in conjunction with the debut of the Ouroboros Peras on the Cardano system. As Input Output, the development firm behind Cardano, stated, Peras is an expansion of the Ouroboros Praos protocol that tackles the issue of transaction settlement duration, thereby significantly reducing the chance of a transaction being reversed.

According to Input Output,

In simpler terms, Peras operates by employing consensus among stake pool operators (SPOs) through a voting system based on stakes. This method amplifies the importance of blocks supported by most SPOs. Instead of choosing the longest chain as the standard, the selection rule is adjusted to favor the heaviest chain.

Charles Hoskinson, founder of Cardano, has also shared his thoughts on the Peras release. He described Ouroboros Peras as “one of the most thoroughly prototyped protocols.” This update, along with proposals for improvements like Leios, are part of the strategies aimed at expanding the capabilities of the Cardano network.

Currently as I’m typing, the cost of one ADA coin is approximately $0.35, marking a decrease of more than 2% within the past 24 hours. The trading volume has significantly increased by over 48%, with a total of around $376.8 million worth of ADA being traded during this timeframe.

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2024-10-15 18:56