By Ali Raza April 30, 2018
Cardano (ADA) team managed to solve one of the biggest issues regarding the prove-of-stake algorithm, which turned out to be security. The tweet posted yesterday by Charles Hoskinson includes a video where Professor Kiayias talks about the breakthrough from the IOHK lab, dedicated to blockchain tech.
The importance of the breakthrough
Professor Kiayias of the IOHK team stated that new blockchain enthusiasts do not have to be in possession of any previous knowledge regarding the number of system’s active users. This is something that was always seen as a problem when it comes to prove-of-stake since it brought a lot of security problems with it. Prove-of-stake is much better when it comes to scalability than proof-of-work which is why the advancement in question is a big deal for Cardano ADA. Basically, because of it, Cardano is one of the most secure and scalable blockchains on the market, and its security can even rival the one of Bitcoin.
According to the Professor Kiayias lecture, the Cardano team is extremely excited about the new development. It is their goal to make Cardano the best available platform, instead of just gaining popularity. This can also be seen in the IOHK team’s efforts of making a light wallet. The team knows that the wallet’s cryptography needs improvement in order to truly become the light wallet.