Cardano Founder Hints At What Next For Network Amid Peras Release

Boluwatife Adeyemi
October 15, 2024
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Highlights

  • Cardano Founder hinted that the next network upgrade could revolve around changes to the validation zones.
  • He stated that this upgrade will "massively improve" the Cardano network.
  • Specifically, the proposal focuses on the Babel fees, which involves the use of non-Ada currencies for paying transaction fees.

Cardano Founder Charles Hoskinson has provided insights into what could be the next upgrade for the network following the unveiling of the Ouroboros Peras protocol. This came as Hoskinson admitted this potential upgrade is long overdue and added that it will “massively improve” the Cardano network.

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Cardano Founder Hints At What Next For Network

Charles Hoskinson hinted in an X post that Cardano developers could soon proceed with an upgrade regarding validation zones following the Peras upgrade. This came following a statement in which he agreed with Cardano blockchain developer Andrew Westberg that this upgrade should be a dev priority for Cardano.

The Cardano founder said Westberg was correct as this upgrade is a long overdue enhancement that will “massively improve” the network. Westberg stated in an X post that the Cardano Improvement Proposal (CIP) is an “elegant solution” to many long-standing issues. He added that this proposal will introduce composability and ‘Babel Fees’ on the network.

The Cardano developer also said this solution allows the eUXTO model to “shine” and perform efficiently. Westberg also shared a GitHub page, which provided further insights into what this upgrade will entail. According to the page, this upgrade will involve making certain changes around validation zones.

The validation zones refer to constructs that allow certain kinds of underspecified transactions. Furthermore, the Babel-fees use case will involve permitting transactions that specify part of a swap request.

This recent CIP and potential network upgrade comes just days after the Cardano founder defended his network following growing criticism. Hoskinson believes that the transition to the Voltaire era will help address long-standing issues the network faces. The crypto founder added that those criticizing the network misunderstand the blockchain’s developmental trajectory and the shifts required for growth.

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The Unveiling Of The Ouroboros Peras Protocol

The potential upgrade to the validation zones comes amid the release of the Ouroboros Peras on the Cardano network. Cardano development company Input Output said that Peras is an extension of the Ouroboros Praos protocol that addresses the problem of transactions’ settlement horizon. This ensures that the likelihood of a transaction being reverted becomes minimal.

According to Input Output,

The key concept behind Peras is the use of stake-based voting to boost the weight of blocks on which a majority of stake pool operators (SPOs) agree. The chain selection rule is then modified to select the heaviest chain instead of the longest one.

Cardano Founder Charles Hoskinson also commented on the Peras release. He said that Ouroboros Peras is “one of the best-prototyped protocols.” This upgrade and solutions like the Leios proposed upgrade are part of the plans to help scale the Cardano network.

At the time of writing, the ADA price is trading at around $0.35, down over 2% in the last 24 hours. Trading volume is up by over 48%, with $376.8 million traded during this period.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several niches. His speed and alacrity in covering breaking updates are second to none. He has a knack for simplifying the most technical concepts and making them easy for crypto newbies to understand. Boluwatife is also a lawyer, who holds a law degree from the University of Ibadan. He also holds a certification in Digital Marketing. Away from writing, he is an avid basketball lover, a traveler, and a part-time degen.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.