Cardano Becomes One of the Most Scalable and Secure Smart Contract Blockchains with Ouroboros Genesis

  • Cardano’s Charles Hoskinson just tweeted that
    the IOHK team managed to finally fix the most stringent issues related
    to the prove-of-stake algorithm – security. He embedded a video in his tweet that shows Professor Kiayias explaining his accomplishment at the IOHK blockchain tech lab.

    We’re very proud to announce Ouroboros Genesis, a new paper from the IOHK research team. This latest version of Ouroboros, the algorithm powering Cardano, is a step forward in the cryptography that powers cryptocurrency systems. In this video, filmed at the IOHK blockchain technology lab at the University of Edinburgh, Professor Kiayias explains the research, the IOHK team announcedon YouTube.

    The professor detailed how new users that are entering the blockchain don’t require any previous knowledge of the number of active users in the system. Previously, this was the main issue of prove-of-stake because it allowed vulnerability to security flaws. In terms of scalability, prove-of-stake is always better compared to proof-of-work and this makes Cardano’s accomplishment a significant one.

    Read full here:

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