Cardano transitioning to a decentralized network [UPDATED]

Cardano transitioning to a decentralized network [UPDATED]

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 | ADA

Updated: Nov 7 at 2:21 am UTC

Cardano, currently ranked #12 by market cap, is down 4.36% over the past 24 hours. ADA has a market cap of $1.04B with a 24 hour volume of $88.64M.

Chart by CryptoCompare

Cardano is down 4.36% over the past 24 hours.

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Mitchell Moos

Mitchell Moos

Contributing Analyst @ CryptoSlate

Mitchell is a software enthusiast and entrepreneur. His first startup built algorithms for optimizing cryptocurrency mining. Prior to CryptoSlate, Mitchell was a project manager at a firm that built distributed software on Hyperledger. In his spare time he loves playing chess and hiking.

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