As a researcher with extensive experience in blockchain technology, I have closely followed the evolution of Cardano and its journey towards becoming a leading smart contracts platform. The upcoming transition to Voltaire, following Basho, is an exciting development that promises significant benefits for Cardano, particularly in terms of scalability and performance.
Moving forward, the smart contract platform known as Cardano – a rival to Ethereum – is transitioning from its current stage, Basho, towards Voltaire. During the Basho phase, developers primarily worked on improving scalability and performance.
As a researcher immersed in this transition, an essential step will be the full activation of the Chang hard fork. From the insights gathered via Cardanoscan, it appears that just over one-third (33%) of stake pool operators (SPOs) were prepared for the transition as of August 19th, while only 14% of all supportive exchanges had readied themselves for it.
After every Service Provider Organization (SPO) has updated their nodes and the system transitions to the Voltaire phase, several advantages will emerge. One notable change will be that Cardano will move towards a decentralized management structure.
Will Cardano Lead The ZK-Scaling Race After Chang?
Moreover, an analyst who spoke about insights from Philip DiSarro, founder of Anastasia Labs, stated that the network could spearhead the competition in zero-knowledge (ZK) scaling. In the discussion, DiSarro suggests that Chang’s integration will provide Cardano with a significant edge, positioning it at the forefront of the ongoing “scaling battle.”
The main credit for this advancement primarily lies with the changes introduced by the Chang hard fork in Cardano. Post the hard fork, Cardano is set to adopt Plutus v2, empowering developers to streamline the process of creating and deploying smart contracts more effectively.
As a analyst, I can express it this way: I’m involved in the world of ZK proofs, and the programming language we use plays a crucial role in executing entire computations that form the basis of these proofs. Following our recent update, we’re gearing up to enable off-chain computation—a critical feature for ZK-rollups, allowing us to process transactions instantly without overloading the main blockchain.
Based on these developments, the observer strongly believes that after Chang, Cardano will stand out as something original and cannot be replicated by others. This distinct feature, as the observer further explains, provides the network with a significant, one-of-a-kind advantage when it comes to Zero-Knowledge (ZK) scaling.
Ethereum Leads Layer-2s But Transaction Determinism Is Crucial
In simpler terms, most scalability in Ethereum comes from optimistic rollups, a system where multiple transactions are grouped together and verified offline. However, there’s an issue with this approach – centralized entities function as intermediaries, potentially undermining the main advantages of processing transactions directly on the blockchain.
Certain centralized structures incorporate a transaction scheduler, which organizes the processing order of transactions. Furthermore, they have a robust mechanism in place to verify the legitimacy of every posted transaction.
Via Chang (a potential implementation), Cardano could opt for Zero-Knowledge (ZK) scaling as their primary method for improving transaction processing. This decision would make off-chain transactions, akin to Ethereum’s rollups, more efficient and decentralized due to the platform’s support for determinism.
In simpler terms, the focus of the developers is on ensuring consistency – every input in transactions results in identical outputs, which makes it an ideal fit for Zero-Knowledge (ZK) scaling. This consistency means that transaction results can be accurately predicted.
ADA continues to struggle during its transition, unable to discard its weakness. The cryptocurrency has dropped by approximately 60% from its peak in March 2024 and is currently testing significant support at the $0.30 level.
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2024-08-20 01:42