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Cardano transitioning to a decentralized network [UPDATED] Cardano transitioning to a decentralized network [UPDATED]
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Cardano transitioning to a decentralized network [UPDATED]

Cardano transitioning to a decentralized network [UPDATED]

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 โ€œthird-generationโ€ blockchain platform with an emphasis on research and peer review. The first development phase of Cardano was the โ€œByron era,โ€ 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 โ€œOuroborosโ€ proof-of-stake consensus.

Coinciding with Byron is the โ€œBootstrap era,โ€ where a group of โ€œtrusted nodesโ€ 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 โ€œShelley eraโ€ of development, marking the shift toward a more decentralized community-run network. This will transition the network from the Bootstrap to โ€œReward era,โ€ enabling users to stake their Ada to earn rewards amongst the decentralized community nodes.

โ€œOnce the majority of nodes are run by network participants, Cardano will be more decentralized and enjoy greater security and robustness as a result,โ€ 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 ›

Cardano

2:21 am UTC on Nov. 7, 2019

$0.04

-4.36%
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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