Genesis is coming: Cardano finally ready to eclipse its crypto rivals!

Charles Hoskinson, the founder of Cardano, has just announced the imminent arrival of Ouroboros Genesis, a major update to the consensus protocol of his blockchain. A crucial evolution that promises to significantly enhance the security and performance of the network.

Ouroboros Genesis, heir to a lineage of innovations

The founder of Cardano, Charles Hoskinson, recently excited the crypto community with a laconic tweet: “Genesis is coming.” This announcement refers to the new Ouroboros Genesis protocol, on which the Cardano development team is currently working.

Ouroboros Genesis follows in the footsteps of previous iterations of Cardano’s consensus protocol: Classic, BFT, and Praos. Its primary goal is to better protect the most vulnerable nodes in the network, particularly during their initial connection or when returning after a prolonged absence.

To achieve this, this update introduces several innovative mechanisms, detailed by Nicholas Frisby, an engineer at IOHK, in a blog post following Hoskinson’s announcement.

Among these mechanisms are:

• “Ledger Peers” to secure connections between nodes
• “Lightweight Checkpointing” enabling quick consensus when needed
• “LoE” (Limit of Eagerness) and “LoP” (Limit of Patience) limits preventing hasty commitments to unvalidated chains and connections with slow peers.

Besides these improvements, Genesis strengthens the overall security of Cardano:

• The rollback limit of 2160 blocks ensures a balance between flexibility and finality
• The peer selection logic favors honest nodes
• Dynamic adjustments maintain strong defenses under all circumstances

A launch scheduled for the 3rd quarter of 2024

The deployment of Ouroboros Genesis will undoubtedly mark a turning point for Cardano in terms of security and performance. Currently in the final phase of development and testing, its release is scheduled for the 3rd quarter of 2024.

This period will allow for the validation of the integration and performance of the new features under various conditions. The IOHK teams seem confident, with Hoskinson having stated on Twitter that development was “progressing well” and that “exciting announcements” were forthcoming.

For now, the crypto market is reacting timidly, with ADA trading around $0.45. But there’s no doubt that the arrival of Ouroboros Genesis could significantly boost the adoption and valuation of Cardano in the near future.

In short, Ouroboros Genesis marks a pivotal step in the evolution of Cardano’s consensus. This “genesis” promises to elevate its blockchain among the most performant and secure in the market. The coming months will be crucial to realize the potential of these major innovations.