tl;dr
Cardano founder Charles Hoskinson hints at potential network upgrade following the unveiling of the Ouroboros Peras protocol. The upgrade may focus on changes to validation zones and "Babel Fees" to improve the network. The Peras protocol aims to minimize the likelihood of transaction reversals. Hos...
Cardano Founder Hints At Potential Network Upgrade Cardano founder Charles Hoskinson hints at potential network upgrade following the unveiling of the Ouroboros Peras protocol. The upgrade may focus on changes to validation zones and "Babel Fees" to improve the network. The Peras protocol aims to minimize the likelihood of transaction reversals. Hoskinson defended the network against criticism, emphasizing the transition to the Voltaire era to address issues.
The potential upgrade comes amid the release of the Ouroboros Peras, seen as a key step in scaling the Cardano network. At present, ADA is trading at around $0.35, with increased trading volume.
Cardano founder Charles Hoskinson has provided insights into what could be the next upgrade for the network following the Peras unveiling. He hinted that the next network upgrade could revolve around changes to the validation zones. Specifically, the proposal focuses on the Babel fees, which involves the use of non-Ada currencies for paying transaction fees.
Hoskinson admitted that this potential upgrade is long overdue and added that it will “massively improve” the Cardano network. He agreed with Cardano blockchain developer Andrew Westberg that this upgrade should be a dev priority for Cardano.
The Cardano Improvement Proposal (CIP) is an “elegant solution” to many long-standing issues and will introduce composability and ‘Babel Fees’ on the network. The upgrade will involve making certain changes around validation zones and permitting transactions that specify part of a swap request.
The potential upgrade to the validation zones comes amid the release of the Ouroboros Peras on the Cardano network. Peras is an extension of the Ouroboros Praos protocol that addresses the problem of transactions’ settlement horizon, aiming to minimize the likelihood of a transaction being reverted. Additionally, stake-based voting will be utilized to boost the weight of blocks on which a majority of stake pool operators (SPOs) agree, modifying the chain selection rule to select the heaviest chain instead of the longest one.
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, with increased trading volume.
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General Dynamics Corporation Summary General Dynamics Corporation (GD) is an American aerospace and defense corporation. It is headquartered in Reston, Fairfax County, Virginia.
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