Cardano (Ada) has slipped in the past few months, on place 7 of all crypto currencies by market capitalisation. Gradually and slowly, Ada seems to win back again the Momentum. This is due to the technical progress, was able to announce the Team last.
Charles Hoskinson has the day before yesterday tweeted that the IOHK Team has solved the biggest children’s diseases of the “Proof-of-Stake” algorithm for Cardano. In the Video, which is embedded in Hoskinson in his Tweet, is a Professor Aggelos Kiayias, the laboratory explains the technical progress in the IOHK-Blockchain technology.
Proof-of-Stake-based (in short: PoS-based) block chains aim to overcome the scalability, efficiency and compatibility problems of the Proof-of-Work paradigm, which is for the security of Proof-of-Work based Cryptocurrencies like Bitcoin, is essential.
According to studies of Cardano, but there are “no existing PoS-based Blockchain Protocol, which can realize the Ledger functionality under dynamic availability in the same way as Bitcoin (using only the in the Genesis Block of the available Information)”.
To address this Problem, proposing to Ada a new PoS-based Protocol called “Ouroboros Genesis”. According to the explanatory notes of Professor Kiayias, one of the major problems that the Light Wallet for the Proof-of-Stake part of the Blockchain needed to know to make the necessary functionalities for the PoS.
This also meant an increased security risk. Therefore, the Team intends to make the Light Wallet (Daedalus) so “easily” as possible, so that it is effective and at the same time user-friendly.
In view of the fact that the Proof-of-Stake, in terms of scalability is far better than the Proof-of-Work, the breakthrough in Ouroboros Genesis is an important milestone.
In addition, the Team in his last technical Update has been informed that a number of improvements in the Wallet Backend, Daedalus Wallet, in terms of Cardano decentralization, Networking, and DevOps have been achieved. The Start of the two Testnets should also be just before.
Probably the most important difference between the Cardano and other crypto-currencies, but not in the technology but the Marketing. Basically, the Team operates behind Cardano no Marketing, but is focused to 100 percent to develop the best technology.
A very recommended Video on the topic of Cryptocurrencies in General, Bitcoin and Cardano than 3. Generation of Blockchain technology, shows Charles Hoskinson at a conference in Hong Kong.
Cardano is not the same in the last weeks of the bear market spared and is from its all-time high of about 0.96 Euro is still far away. At the time of writing, the Ada course is located at 0,2578 Euro and has over the last month, an increase of 122 percent.
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