Cardano, 11th top cryptocurrency by market cap was created in 2017 starting with Byron, the Cardano development team steered by Charles Hoskinson under Input Output Hong Kong (IOHK) has come quite a long way. In contrast to Ethereum which was forked from Bitcoin and updated, Cardano was built from scratch.
Charles Hoskinson, Cardano co-inventor and Ethereum alumnus in a recent tweet to Cardano users said that with the recent developments happening in the Cardano ecosystem, the next two months will certainly be explosive and impactful for the crypto asset.
Hoskinson who wasn’t just speaking out of the blues hinted on a private meeting he had with his brand managers about recent updates on the crypto asset and also on market predictions, this he said formed the basis of his analogy of Cardano as an “iceberg”, a time bomb in away.
Cardano has made remarkable progress this year. At the time of writing, ADA trades at $0.061, gaining nearly 4.6% in the last 24 hours.
Cardano Deploys OBFT
Barely a few weeks after Cardano launched Shelley incentivized Testnet, the Cardano ecosystem achieved another monumental feat which is the efficient deployment of Ouroboros Byzantine Fault Tolerance (OBFT) protocol.
This latest protocol is an update over the initial Ouroboros “Classic,” which is at the moment active on Cardano’s mainnet. In contrast to the initial version which made a few compromises in decentralization, Ouroboros is a verifiably secure proof-of-stake consensus protocol.
This hard fork moves the Cardano blockchain close to Shelley which will initiate a Proof-of-Stake (PoS) consensus algorithm. Also, this latest update makes Cardano, a fully decentralized blockchain.
Cardano which is home to ADA coins promises to reward its users with ADA once the “Shelley era’ starts.
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