Leaked images from the Cardano GitHub show the protocol transitioning from centralized nodes to the more community-run decentralized network, with Ada staking, in under three months.
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.
Leaked GitHub image suggests development is ahead of schedule?
Images from the open-source Daedalus wallet GitHub, the primary wallet for Cardano which is also supported by IOHK, show a decentralization countdown finishing in two months and seven days.
The Shelley era is scheduled to complete by the end of 2020. If the timer is accurate and is measuring from today then development would appear to be well ahead of schedule. If so, confirmation of the news would likely have a material impact on Ada’s price.
That said, the image is highly speculative and does not suggest anything beyond Cardano making continued progress toward completing Shelley and decentralizing its network. Those closely watching the cryptocurrency’s progress should wait for additional confirmation from a more reliable source at IOHK, Emurgo, or the Cardano Foundation.
The post Leaked GitHub image show Cardano transitioning to a decentralized network in under three months appeared first on CryptoSlate.
Leave a Reply