Cardano founder Charles Hoskinson recently acknowledged the ongoing buzz about Ourobros Leios in the ecosystem. He said people are beginning to ask questions like “What about leios, focus on leios, can leios happen?”
This suggests that netizens may be second-guessing the reality of implementing the Proof-of-Stake (PoS) protocol.
Cardano Leios Project, Latest Update
Hoskinson confirmed to his followers and Cardano community members that there are ongoing efforts towards prototyping the project.
He further claimed that a working group made up of several companies is involved in this phase and implementation will follow once the time is right. To this end, the Cardano founder emphatically said that “Leios is a done deal.”
The Coin Republic described this project as a PoS protocol that is positioned to rival the security of Proof-of-Work (PoW) systems while offering several benefits.
Through the utilization of a PoS blockchain, it is able to address the pressing need for energy-efficient alternatives.
In addition to the security guarantees of PoS protocols, Ouroboros Leios also introduces various improvements that promise to reshape the blockchain landscape.
It also has an innovative reward mechanism that incentivizes entities that participate in PoS protocols.
Experiments have been conducted on transaction confirmation and processing to validate its reliability. So far, Leios has the potential to tackle the energy consumption challenge, which is common with PoW mechanisms.
What is the Essence of Leios Innovation?
This innovation is a significant advancement in blockchain technology, seeing that it offers both security and efficiency advantages.
It has an innovative design, formalized security, and has also demonstrated practicality.
By distinguishing between transaction processing and network consensus, proponents said this protocol could improve the Cardano network’s throughput.
With all these features, it presents a compelling solution to contemporary blockchain systems’ challenges.
Ultimately, Ouroboros Leios holds the potential to give Cardano a competitive edge over its counterparts.
Last month, Hoskinson weighed in on the issue of scalability in the broader cryptocurrency space. This was around the time when the Solana blockchain was faced with transaction congestion.
Hoskinson boasted that Cardano had developed “Leios and Hydra” for such scenarios.
Precisely, he proposed the Leios upgrade, which will impact Cardano’s consensus mechanism, as a solution to Solana’s scalability challenges.
It is worth noting that Hoskinson had previously pointed out that Ouroboros Leios would make Cardano faster than Solana.
Major Cardano Tech to Note: HYDRA, MIDNIGHT, LACE
Aside from Leios, the Cardano ecosystem has other ongoing projects to better serve its community members. Three weeks ago, Cardano Light Wallet, Lace, welcomed a new upgrade with interesting features.
The new Lace Wallet version 1.19.0 is likely to enhance the performance and compatibility of Cardano, with more focus on speed and versatility.
Also, there is Hydra which exceeded the 1 million Transactions Per Second (TPS) level during a Doom gaming competition.
This solution is designed to increase the scalability of Cardano. Hydra’s scalability could unlock new Decentralized Applications (dApps) possibilities.
Cardano’s Midnight testnet went live in December 2024, placing Cardano in the spotlight. The Midnight Protocol aims to merge privacy with regulatory compliance on the network
