- Cardano Ouroboros Will be a Game Changer According to the Cardano Development Team
- Cardano’s Decentralized Network Will Revolutionize the Blockchain Industry
Cardano News Today – Among other things, Cardano Shelley will make the blockchain 100% decentralized. This unprecedented decentralization is the game-changer that everyone in the blockchain community has been expecting wholeheartedly. The migration from proof-of-work to proof-of-stake is already scheduled to take place next month. Aggelos Kiayias, the chief scientist at Cardano recently revealed more details about Ouroboros. He also talked about the principles on which the Ouroboros protocol is based.
Cardano News Today – Ouroboros is Unlike Anything the Blockchain Industry Has Ever Seen
Aggelos Kiayias said that Ouroboros is unique because it combines different design elements that put rational behaviors and Byzantine into consideration. Ouroboros uses staking pools as a resource to identify leverage participants on the network. Ouroboros is resistant to attacks that would normally have affected proof-of-work networks. For example, the 51% network consolidation attack will no longer affect the blockchain. If more than 50% of the power is controlled by one staking pool, the network will survive for some time. Things will only go out of control if the attack continues for too long. Also, the Ouroboros platform is more environmentally friendly since they need less physical resources than the previous network.
Cardano (ADA) Price Today – ADA / USD
Ouroboros provides the kind of dynamic availability that proof-of-work platforms don’t provide. With Ouroboros, the Cardano network will continue to work irrespective of the number of participants that may decide to stop staking. Kiayias said;
“Of those participants who are active, barely more than half need to follow the protocol—the rest can arbitrarily deviate. In this way, all stakeholders contribute to the system’s operation – ensuring robustness and democratic representation – while the cost of ledger maintenance is efficiently distributed across the user population.”
Ouroboros is more adaptable and resilient than the Byzantine protocol. It is also different from other proof-of-stake protocols because of its trustlessness. Kiayias said that users don’t need a special shared resource when they want to join or participate in the network. Engaging in the protocol requires the public genesis block of the chain. This way, there is no single point of failure that is also a trusted resource on the network.
Cardano Price Prediction 2020 – Cardano ADA Stalls Against the USD
For the last two weeks, the price of the Cardano ADA token has been struggling against the USD. This struggle came after months of a bullish surge against the USD. The price was $0.082110 at the time of writing. It is down by 1.47% against the USD and down nu 0.64% against the price of Bitcoin BTC. The trading volume over a 24 hour period is $260,171,115 and the market capitalization is $2,128,868,304.