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Don't be Afraid, Guarantee the Security of Cardano Coins (ADA) Same as Bitcoin

Written By Hanny & Melissa on Thursday, April 11, 2019 | Thursday, April 11, 2019

https://www.economicfinancialpoliticalandhealth.com/2019/04/dont-be-afraid-guarantee-security-of.html
Last March 20, Cardano (ADA) launched Cardano 1.5 on main net, so the smart contract protocol and decentralized application left Byron's development phase and entered the long-awaited phase of Shelley's development.

NetCardano 1.5's launch was an important event, because the protocol was a step closer to the Proof of Stake (PoS) consensus, the consensus protocol of Ouroboros BFT. 

According to IOHK, the developer company of Cardano, this protocol has the same security guarantee as the Proof of Work (PoW) protocol such as Bitcoin.

In addition, this update also included a number of optimizations for the Cardano wallet, Daedalus, and set the framework needed to move into the development phase of Shelley's success.

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According to the Cardano roadmap, Shelley phase will present a variety of improvements in the form of multi-signature transactions, light client mode, paper wallet, voting center, compensation and consensus fees, renewed wallet, quantum proof and open Ouroboros delegation .(investinblockchain.com/ author)

Although main net Cardano 1.5 was successfully launched, there are still a number of procedures that must be done before Cardano enters the Shelley phase and transitions to the Proof of Stake (PoS) protocol.

Now, Cardano uses the Ouroboros Classic protocol which contains a limited number of nodes and other disadvantages. To correct this, Cardano 1.5 uses a new consensus protocol called the Ouroboros BFT (Byzantine Fault Tolerance).

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The BFT Ouroboros protocol is a key transition step towards the PoS protocol, but it will not be activated until an undetermined time. In terms of performance, Cardano 1.5 includes increasing efficiency when validating lists with a large number of transactions and wallet addresses, adding features to detect insufficient hard disk space, and new layers that describe the block consolidation process.

The news made ADA jump up to 16 percent in the past week. The 11th largest crypto with a market capitalization with a value of US $ 1.4 billion has a daily trading volume of US $ 45 million, of which only a week earlier was only US $ 28 million.

While Cardano advanced with their development plans, there are still a number of key aspects that must be implemented before the full transition to Shelley.

Even though like that, renewal of the BFT Ouroboros protocol will be carried out in the near future, so that it will make Cardano better and closer to the PoS consensus..

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