As a seasoned blockchain researcher with years of immersion in the ever-evolving cryptocurrency landscape, I find myself consistently intrigued by the strides being made in the Cardano ecosystem. The recent blueprint unveiled by Charles Hoskinson to significantly enhance the scalability of the Cardano blockchain is undeniably captivating.
Charles Hoskinson, the founder of Cardano, has just revealed plans to substantially boost the capacity for handling transactions on the Cardano blockchain.
At a recent gathering, Cardano’s founder, Charles Hoskinson, made an exciting declaration about Cardano aiming to lead the pack in terms of scalability. This forward-thinking statement was recently posted by IOG on Twitter.
According to the Cardano founder’s tweet as paraphrased, “Leios will significantly enhance layer 1 performance. With rollups joining PlutusV3 and Hydra, this combination promises top-tier scalability.
💻 “Charles from IOHK states that Leios will significantly enhance Layer 1 performance. Enhanced by rollups, which will be part of PlutusV3, and Hydra, they aim to deliver top-tier scalability.
— Input Output (@InputOutputHK) September 7, 2024
As a crypto investor, I’m thrilled about the potential improvements on the horizon for Cardano. The founder has shared that Ouroboros Leios, coupled with rollups in Plutus V3 and the scaling solution Hydra, promises top-tier scalability performance. This is exciting news as it suggests faster transactions and smoother user experience for me and fellow investors.
The latest member of the Ouroboros family, called Ouroboros Leios, has been engineered to boost efficiency substantially, all while preserving or even matching the same degree of security that was present in previous Ouroboros versions.
Current versions of the Ouroboros blockchain protocol have limitations in their ability to handle large volumes of data and computational tasks. These restrictions aren’t due to the resources each node has (network capacity or CPU power), but rather the data and communication requirements inherent in the distributed algorithm itself. To overcome these limitations, a new design for the algorithm is needed, which is what Ouroboros Leios aims to provide.
Cardano milestones and developments
On September 1, 2024, the Cardano blockchain embarked on a significant and irreversible journey towards full community governance with the deployment of the Chang 1 update. This means that instead of relying on centralized control, it will now be governed solely by its community of ADA holders.
In the past week, Cardano node v.9.1.1 was released to address an issue where 9.1.0 nodes would replay from the genesis block upon restart during the Conway era.
In a recent update, version 1.15 of Lace, has made its governance more accessible to users of Conway-era hardware wallets, thereby improving usability and functionality. Moving forward, the Lace team is gearing up for the launch of version 1.16.
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2024-09-08 19:17