{"id":49606,"date":"2018-05-03T08:56:55","date_gmt":"2018-05-03T15:56:55","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=49606"},"modified":"2019-11-07T02:21:35","modified_gmt":"2019-11-07T02:21:35","slug":"cardano-ada-update-latest-technical-release-reveals-solid-foundation-being-built","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/cardano-ada-update-latest-technical-release-reveals-solid-foundation-being-built\/","title":{"rendered":"Cardano (ADA) Update: Latest Technical Release Reveals Solid Foundation Being Built"},"content":{"rendered":"<p>The <a href=\"http:\/\/cryptoslate.com\/coins\/cardano\">Cardano Project<\/a> begins to take shape with the announcement of two testnets alongside major advancements in providing a provably secure Proof of Stake protocol.<\/p>\n<p>The latest version of Cardano\u2019s Ouroboros staking algorithm, dubbed Genesis, will allow parties to bootstrap the blockchain form the genesis block. This allows desynchronized and new users of the network to enter the blockchain without any previous knowledge of active participants or the history of the chain.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Of all the papers IOHK Research has written, this one is the most significant. It&#39;s  a major advancement for Proof of Stake <a href=\"https:\/\/t.co\/QNIPonatF6\">https:\/\/t.co\/QNIPonatF6<\/a> now PoS has nearly identical properties to PoW. <a href=\"https:\/\/t.co\/zAP7dSxR3y\">https:\/\/t.co\/zAP7dSxR3y<\/a> Welcome to the age of Ouroboros Genesis<\/p>\n<p>&mdash; Charles Hoskinson (@IOHK_Charles) <a href=\"https:\/\/twitter.com\/IOHK_Charles\/status\/989540452322836480?ref_src=twsrc%5Etfw\">April 26, 2018<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>This development marks a huge advantage for the team, cementing the project as one the most secure and scalable smart contract capable blockchains on the market. This feature was previously one of the hallmarks of Proof of Work consensus algorithms, thought to be impossible for a Proof of Stake based network, Ouroboros\u2019 implementation allows PoS to match the security guarantees of protocols like Bitcoin without needing to rely on resource-intensive mining equipment.<\/p>\n<h2>Ouroboros Accepted as Entry for Eurocrypt 2018<\/h2>\n<figure id=\"attachment_6075\" aria-describedby=\"caption-attachment-6075\" style=\"width: 300px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-6075\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2017\/10\/cardano-small-cover-300x137.jpg\" alt=\"Cardano\" width=\"300\" height=\"137\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2017\/10\/cardano-small-cover-300x137.jpg 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2017\/10\/cardano-small-cover.jpg 482w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><figcaption id=\"caption-attachment-6075\" class=\"wp-caption-text\">Cardano is a decentralized platform that will allow complex programmable transfers of value in a secure and scalable fashion. Cardano is one of the first blockchains to be built in the highly secure Haskell programming language.<\/figcaption><\/figure>\n<p>IOHK, the company responsible for the development of Cardano, has been invited to present Ouroboros at <a href=\"https:\/\/eurocrypt.iacr.org\/2018\/\">Eurocypt 2018<\/a> in order to share their findings with the wider cryptography community and gain insight by allowing the community to assist the project through the process of academic peer review.<\/p>\n<p>Presenting at such a prestigious academic event is a testament to the quality of the IOHK team\u2019s research, allowing their code to be proofed and critiqued by industry experts. This process fits in line with the team\u2019s goal of enabling development of the network within the accepted academic framework, an endeavor that distinguishes Cardano from the rest of the market.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Ouroboros Praos, a novel proof-of-stake protocol designed by IOHK researchers is being presented this morning at <a href=\"https:\/\/twitter.com\/hashtag\/Eurocrypt2018?src=hash&ref_src=twsrc%5Etfw\">#Eurocrypt2018<\/a> to a packed audience! <a href=\"https:\/\/twitter.com\/hashtag\/IOHK?src=hash&ref_src=twsrc%5Etfw\">#IOHK<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Cardano?src=hash&ref_src=twsrc%5Etfw\">#Cardano<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Ada?src=hash&ref_src=twsrc%5Etfw\">#Ada<\/a> <a href=\"https:\/\/twitter.com\/CardanoStiftung?ref_src=twsrc%5Etfw\">@CardanoStiftung<\/a> <a href=\"https:\/\/twitter.com\/cardanocom?ref_src=twsrc%5Etfw\">@cardanocom<\/a> <a href=\"https:\/\/t.co\/nsuglC2Pek\">pic.twitter.com\/nsuglC2Pek<\/a><\/p>\n<p>&mdash; Input Output (@InputOutputHK) <a href=\"https:\/\/twitter.com\/InputOutputHK\/status\/991209962482397185?ref_src=twsrc%5Etfw\">May 1, 2018<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Cardano also recently <a href=\"https:\/\/iohk.io\/blog\/iele-a-new-virtual-machine-for-the-blockchain\">announced<\/a> the release of two testnet for the platform in the form of K-EVM and IELE. Firstly, <a href=\"https:\/\/www.ideals.illinois.edu\/bitstream\/handle\/2142\/97207\/hildenbrandt-saxena-zhu-rodrigues-guth-daian-rosu-2017-tr_0818.pdf\">K-EVM<\/a> defines the formal semantics of the Ethereum Virtual Machine in the K framework. This release, set for May 28th, aims to \u201cseparate specification of analysis tools from the specification of particular programming languages or other models\u201d allowing for a greater formalization of the EVM and providing developers more capable tools to analyze code.<\/p>\n<p>Secondly, IELE will provide developers with a collection of compiler and toolchain technologies based on the modular principles of <a href=\"https:\/\/llvm.org\/\">LLVM<\/a>. Much like LLVM, IELE is a register-based virtual machine and operates as the lowest layer of the Cardano Computation Layer.<\/p>\n<h2>Testnet Releases Show Promise for Continued Progress<\/h2>\n<p>The two testnets comprise parts of Cardano's project Goguen milestone. This marks a major checkpoint for the project's roadmap comprising of increased functionality within the platforms smart contracts that would allow for sidechains, support multiple currencies on a single ledger and see the rollout of Cardano's general-purpose smart contract programming languages Plutus and Marlow.<\/p>\n<p>The IOHK April <a href=\"https:\/\/www.youtube.com\/watch?v=oyF037MPyx4&t=73s\">update<\/a> reveals that engineering of the Plutus language is near completion alongside a Solidity to IELE translator and adaption of Ethereum Classics Mantis client. While this most recent announcement lacks detail, expect more information to be revealed soon as Cardano updates its roadmap.<\/p>\n<figure id=\"attachment_47932\" aria-describedby=\"caption-attachment-47932\" style=\"width: 300px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-47932\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/04\/cardano-april-update-social-300x158.jpg\" alt=\"Cardano (ADA) April Update: Up 53% Over Past Month On New Developments and Exchange Listings\" width=\"300\" height=\"158\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/04\/cardano-april-update-social-300x158.jpg 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/04\/cardano-april-update-social-768x403.jpg 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/04\/cardano-april-update-social-1024x538.jpg 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/04\/cardano-april-update-social.jpg 1200w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><figcaption id=\"caption-attachment-47932\" class=\"wp-caption-text\">Related Story:\u00a0<a title=\"Cardano (ADA) April Update: Up 53% Over Past Month On New Developments and Exchange Listings\" href=\"https:\/\/cryptoslate.com\/cardano-ada-april-update\/\">Cardano (ADA) April Update: Up 53% Over Past Month On New Developments and Exchange Listings<\/a><\/figcaption><\/figure>\n<p>In recent months Cardano had <a href=\"https:\/\/cryptoslate.com\/cardano-ada-april-update\/\">continued<\/a> to maintain strong support from the market, resulting in consistent supportive positive price action.<\/p>\n<p>The project\u2019s <a href=\"https:\/\/www.cardano.org\/en\/cardano-audit-reports\/\">audit <\/a>from trusted third-party software developer FP Complete provided investors with assurance that the chain\u2019s development process is being held accountable while listing on Huobi saw Chinese capital flow in via the Beijing based exchange.<\/p>\n<p>The combination of events and developments has resulted in a 150% rise in price over that past month, which could continue as the market continues to show strong support for projects that excel at the fundamentals.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Cardano Project begins to take shape with the announcement of two testnets alongside major advancements in providing a provably secure Proof of Stake protocol. The latest version of Cardano\u2019s Ouroboros staking algorithm, dubbed Genesis, will allow parties to bootstrap the blockchain form the genesis block. This allows desynchronized and new users of the network [&hellip;]<\/p>\n","protected":false},"author":45,"featured_media":49653,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cardano (ADA) Update: Latest Technical Release Reveals Solid Foundation Being Built<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/cardano-ada-update-latest-technical-release-reveals-solid-foundation-being-built\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cardano (ADA) Update: Latest Technical Release Reveals Solid Foundation Being Built\" \/>\n<meta property=\"og:description\" content=\"The Cardano Project begins to take shape with the announcement of two testnets alongside major advancements in providing a provably secure Proof of Stake protocol. 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