Cardano

Ouroboros

Web3 advisor Vanessa Harris (@technologypoet on Twitter) recently called Ouroboros Leios, a new and enhanced version of Cardano’s consensus process unveiled by IOG in November 2022, “Disney-level impressive.” 
Ouroboros is a revolutionary consensus process utilized in the Cardano blockchain to secure the network’s security and efficiency. In layman’s terms, the blockchain is a set of rules that allows a decentralized network of computers agree on the authenticity of transactions and preserve a common history. 
Consider it a virtual roundtable where all participants must agree before any decisions are made. These participants are known as “stakeholders” in Ouroboros, and they are chosen to produce new blocks and validate transactions based on the amount of Cardano (ADA) tokens they own and are prepared to “stake” as collateral. 
This approach allows Cardano to operate without the need for a centralized authority, guaranteeing that transactions are visible, safe, and efficient. Furthermore, Ouroboros is more ecologically friendly than classic proof-of-work systems like the one employed by Bitcoin. 
IOG, the blockchain technology corporation in charge of Cardano R&amp;D, issued a research paper (named “Ouroboros Leios: design goals and concepts”) in November 2022 that unveiled Ouroboros Leios, a new form of the Ouroboros consensus mechanism. According to IOG, the major purpose of Ouroboros Leios is to dramatically increase the Cardano network’s throughput capacity while providing more security than its predecessors. 
According to IOG, existing Ouroboros models have data and CPU processing throughput constraints. These constraints result from the distributed algorithm’s fundamental structure rather than the resources accessible to each node. To address these concerns, IOG created Ouroboros Leios, a new algorithm design that addresses these issues front on. 
Furthermore, IOG claims this new architecture provides a good chance to incorporate current features, such as tiered transaction fees with appropriate service priority levels and speedier chain synchronization, eliminating the need to execute each smart contract. 
IOG concedes that Ouroboros Leios has trade-offs, such as greater resource use and transaction delay. The study article goes deeper into these trade-offs. IOG highlights that Ouroboros Leios is a significant development of the previous Ouroboros Praos and Genesis designs, not merely a minor improvement.&nbsp; 
As a result, the improvements it brings to practical implementations will be considerable, changing the possibilities of the Cardano network. Web3 adviser Vanessa Harris came to Twitter earlier today to share her enthusiasm and respect for Cardano’s impending development, Ouroboros Leios. She compared the improvement to a “Disney-level” achievement, underlining its potential to change Cardano network transaction speeds. 
Harris created an intriguing parallel between Ouroboros Leios and a Disney ride operator who expertly prepares each rider, assuring they can easily go on the ride when their turn comes. She added that the new consensus process would enable idle nodes to execute calculations between blocks, which would then be packaged into the following block. 
This technique, in her words, is similar to the Disney operator’s efficiency but with “a little more Math.” Harris believes that this novel technique will enable Cardano to handle massive transactions, similar to how Disney handles enormous crowds. 
Regarding technical details, Harris stated that “Input Endorsers” are selected between blocks to prepare inputs by pre-processing transactions and scripts. The block producer then incorporates these inputs into the following block. Cardano’s Ouroboros Leios promises to significantly increase the network’s overall efficiency and capacities by using what would otherwise be idle time. 
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The post <a rel="nofollow" href="https://bitcoinworld.co.in/ada-web3-advisor-explains-why-latest-variant-of-ouroboros-is-disney-level-impressive/">$ADA: Web3 Advisor Explains Why Latest Variant of Ouroboros Is ‘Disney-Level Impressive’</a> appeared first on <a rel="nofollow" href="https://bitcoinworld.co.in">BitcoinWorld</a>.

$ADA: Web3 Advisor Explains Why Latest Variant of Ouroboros Is ‘Disney-Level Impressive’

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