Community Forex Questions
Fundamental Analysis Of Cardano
The Cardano blockchain is divided into two layers: the Cardano Settlement Layer and the Cardano Computation Layer.
Let's examine how the layers add meaning to the network's stars. CSL stimulates peer-to-peer transactions within the network using the Ouroboros mechanism. On the other hand, the smart contract mechanism is taken over by CCL, allowing a seamless transition between the two segments!
Cardano uses a Proof-of-Stake algorithm. The Proof of Stake mechanism, however, is not conventional, but a model similar to it that differs. Cardano's consensus is known as the Ouroboros PoS and gives the creation of blocks a new dimension.
Instead of PoS, where token holders get preference, Ouroboros uses epochs to define time slots. Each epoch has a slot leader chosen by the other nodes in the slot. Every epoch, one of these leaders creates a block, and each one gets a chance to do so. This mechanism reduces network congestion and speeds up transactions!
Looking at the Cardano Road Map, it's quite interesting to see the network providing new updates weekly. At the beginning of the month, the network was updated with the Daedalus Mainnet 4.1.0, which allows the wallet to support tokens in decimals. Currently, the team is working on a Proof of Concept mechanism. The addition of Cardano API dependencies is this week's advancement in decentralization.
Let's examine how the layers add meaning to the network's stars. CSL stimulates peer-to-peer transactions within the network using the Ouroboros mechanism. On the other hand, the smart contract mechanism is taken over by CCL, allowing a seamless transition between the two segments!
Cardano uses a Proof-of-Stake algorithm. The Proof of Stake mechanism, however, is not conventional, but a model similar to it that differs. Cardano's consensus is known as the Ouroboros PoS and gives the creation of blocks a new dimension.
Instead of PoS, where token holders get preference, Ouroboros uses epochs to define time slots. Each epoch has a slot leader chosen by the other nodes in the slot. Every epoch, one of these leaders creates a block, and each one gets a chance to do so. This mechanism reduces network congestion and speeds up transactions!
Looking at the Cardano Road Map, it's quite interesting to see the network providing new updates weekly. At the beginning of the month, the network was updated with the Daedalus Mainnet 4.1.0, which allows the wallet to support tokens in decimals. Currently, the team is working on a Proof of Concept mechanism. The addition of Cardano API dependencies is this week's advancement in decentralization.
Sep 16, 2021 10:33