Cardano Founder Charles Hoskinson has provided insights into what could be the next upgrade for the network following the unveiling of the Ouroboros Peras protocol. This came as Hoskinson admitted this potential upgrade is long overdue and added that it will “massively improve” the Cardano network.
Cardano Founder Hints At What Next For Network
Charles Hoskinson hinted in an X post that Cardano developers could soon proceed with an upgrade regarding validation zones following the Peras upgrade. This came following a statement in which he agreed with Cardano blockchain developer Andrew Westberg that this upgrade should be a dev priority for Cardano.
The Cardano founder said Westberg was correct as this upgrade is a long overdue enhancement that will “massively improve” the network. Westberg stated in an X post that the Cardano Improvement Proposal (CIP) is an “elegant solution” to many long-standing issues. He added that this proposal will introduce composability and ‘Babel Fees’ on the network.
The Cardano developer also said this solution allows the eUXTO model to “shine” and perform efficiently. Westberg also shared a GitHub page, which provided further insights into what this upgrade will entail. According to the page, this upgrade will involve making certain changes around validation zones.
The validation zones refer to constructs that allow certain kinds of underspecified transactions. Furthermore, the Babel-fees use case will involve permitting transactions that specify part of a swap request.
This recent CIP and potential network upgrade comes just days after the Cardano founder defended his network following growing criticism. Hoskinson believes that the transition to the Voltaire era will help address long-standing issues the network faces. The crypto founder added that those criticizing the network misunderstand the blockchain’s developmental trajectory and the shifts required for growth.
The Unveiling Of The Ouroboros Peras Protocol
The potential upgrade to the validation zones comes amid the release of the Ouroboros Peras on the Cardano network. Cardano development company Input Output said that Peras is an extension of the Ouroboros Praos protocol that addresses the problem of transactions’ settlement horizon. This ensures that the likelihood of a transaction being reverted becomes minimal.
According to Input Output,
The key concept behind Peras is the use of stake-based voting to boost the weight of blocks on which a majority of stake pool operators (SPOs) agree. The chain selection rule is then modified to select the heaviest chain instead of the longest one.
Cardano Founder Charles Hoskinson also commented on the Peras release. He said that Ouroboros Peras is “one of the best-prototyped protocols.” This upgrade and solutions like the Leios proposed upgrade are part of the plans to help scale the Cardano network.
At the time of writing, the ADA price is trading at around $0.35, down over 2% in the last 24 hours. Trading volume is up by over 48%, with $376.8 million traded during this period.
The post Cardano Founder Hints At What Next For Network Amid Peras Release appeared first on CoinGape.
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed