Cryptocurrency News

IOHK Addresses Cardano’s Secure Switch To Decentralization

IOHK just shared a post on their Twitter account about the secure switch to decentralization that Cardano will show. Check out their tweet below.

The official blog post begins by saying, “The security of proof-of-stake blockchains is provided by a mutually dependent relationship between its native token and the consensus mechanism that powers it: after all, electing nodes to issue blocks according to their stake requires a consistent global view of the stake distribution, while maintaining consistency itself requires a fair election mechanism.”

The same post continues and says that “Indeed, the name Ouroboros – a classical symbol suggestive of mathematical recursion – was originally selected to draw attention to this relationship.”

It’s also important to mention from the same notes that the Cardano blockchain transitions to fully decentralized block production on March 31.

The notes say that “Just afterwards, the running leadership nonce will be enhanced by adding in a ‘transition nonce’ that reflects entropy from a variety of external, unpredictable sources.”

The future of blockchain

In the same blog post, it’s been also revealed that “all transactions posted to the blockchain before Wednesday, April 7 at 15:44:51 UTC (slot 151200 of epoch 258) will play a distinguished role in the future of the blockchain.”

They also talk about what this means that they sum up the following: “their accumulated hash value, reflected in the ‘previous-block hash’ from the first block on chain created on or after this time, will determine the transition nonce and hence directly contribute to the protocol’s perpetual cycle of randomness generation.”

Check out the complete post in order to learn about all the available details.

Also, make sure to check out a new prediction about  ADA’s price.

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