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Cardano transitioning to a decentralized network [UPDATED] 🚨 This article is 5 years old...
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Cardano transitioning to a decentralized network [UPDATED]
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Updated: Nov. 7, 2019 at 2:21 am UTC
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Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Update, July 24, 0800 PST: IOHK contacted CryptoSlate indicating the information had not been leaked because the GitHub is “already and very deliberately in the public domain.” IOHK reaffirms that the project is on schedule to be delivered by 2020 and that the information does not represent a leak.
From “federated” to decentralized nodes
Cardano is a “third-generation” blockchain platform with an emphasis on research and peer review. The first development phase of Cardano was the “Byron era,” marked by the September 2017 launch of the network. Byron focused on the core needs of the network, such as wallets and the first incarnation of the blockchain’s “Ouroboros” proof-of-stake consensus.
Coinciding with Byron is the “Bootstrap era,” where a group of “trusted nodes” maintain the network. These nodes are likely orchestrated by IOHK, the technology startup founded by Charles Hoskinson and Jeremy Wood responsible for building the first iteration of Cardano.
Following Byron is the “Shelley era” of development, marking the shift toward a more decentralized community-run network. This will transition the network from the Bootstrap to “Reward era,” enabling users to stake their Ada to earn rewards amongst the decentralized community nodes.
“Once the majority of nodes are run by network participants, Cardano will be more decentralized and enjoy greater security and robustness as a result,” claims the Cardano roadmap.
Hoskinson himself expects the proof-of-stake system to be “100 times more decentralized than Bitcoin” after Shelley while only using a fraction of the power.
Cardano Market Data
At the time of press 2:21 am UTC on Nov. 7, 2019, Cardano is ranked #12 by market cap and the price is down 4.36% over the past 24 hours. Cardano has a market capitalization of $1.04 billion with a 24-hour trading volume of $88.64 million. Learn more about Cardano ›
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Crypto Market Summary
At the time of press 2:21 am UTC on Nov. 7, 2019, the total crypto market is valued at at $241.47 billion with a 24-hour volume of $112.09 billion. Bitcoin dominance is currently at 68.14%. Learn more about the crypto market ›
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Cardano
$0.92460
Cardano is a decentralized public blockchain and cryptocurrency project and is fully open source.
Input Output
Input Output Hong Kong (IOHK) is a research and development company committed to using the peer-to-peer innovations of blockchain to build accessible financial services for all.
EMURGO
EMURGO Ventures is a wholly owned investment subsidiary of parent company EMURGO Ptd.
Daedalus is a wallet, developed by IOHK which will allow you to store Cardano (ADA) cryptocurrency.
Charles Hoskinson, based in Colorado, stands out as a prominent figure in the blockchain and cryptocurrency sphere.