Ouroboros 소식

AFAIK Genesis seems to be the Core Ouroboros update that get's rid of centralized genesis keys. That alone would take the genesis power from the IOG/CF/Emurgo multisig for genesis. I haven't gone deep into the Genesis paper and haven't seen any simplified explanation of what it does.

Not sure how Ouroboros Genesis is going to react with https://www.1694.io/ where there are a few genesis words:

Constitutional committee keys

The constitutional committee will use a hot and cold key setup, similar to the existing "genesis delegation certificate" mechanism.

So the constitution is also going to get multisig, though that one is probably going to be for votes, not for blockchain discovery as genesis keys.

The versatility of the info governance action

deciding on the genesis file for a new ledger era

Governance is going to be voting on genesis keys? Is this different or the same as Ouroboros Genesis? Or is one going to be an update for another?

Changes to the transaction body

...And similarly, the current MIR and genesis certificates will be removed...

Is this just a reference to the quote above?

Include hash of (future) genesis configuration within hard-fork proposal

Some hard-forks require new genesis configurations. This has been the case for the Shelley and Alonzo hard forks (but not Allegra, Mary, Vasil or Valentine), may be the case in the future. At the moment, this proposal doesn't state anything about such a genesis configuration: it is implicitly assumed to be an off-chain agreement. We could however, enforce that (the hash of) a specific genesis configuration is also captured within a hard-fork governance action.

that last genesis find, also seems to be talking about the same thing.

IOHK introduced Ouroboros Leios which aims to scale Cardano to super fast TPS using Input Endorsers and the Ranking Chain.

He also teased "Ledger Combiners" which would bring Fast Finality to the protocol. Fast Finality is one of the advantages that Algorand and Avalanche have over Cardano and I think is key to real-world adoption.

I was curious so I made a thread about it: https://twitter.com/The_cryptobear/status/1558111594244198401?s=20&t=ej41bA4yY3TbzBb_O5N9lg

Hope you enjoy!

Cardano uses PoS consensus, which at the time of writing is capable of processing 300 simple transactions per second. That’s almost 50 times more than the PoW consensus that Bitcoin uses. However, for the global financial system, this is still insufficient. The IOG team is working on a new version of PoS which they have named Ouroboros Leios.

The developer team of any blockchain network balance three key characteristics, which are security, decentralization, and scalability. The blockchain trilemma refers to a widely held belief that decentralized networks can only provide two of three benefits at any given time. Security is an unconditional feature that cannot be compromised. Teams balance mainly between decentralization and scalability. However, preferring scalability over decentralization is not the best solution, as decentralization is a key feature of the blockchain industry. Moreover, as decentralization decreases, the Nakamoto coefficient decreases as well so does security.

Creating a blockchain network that achieves high scalability while not sacrificing decentralization and security is still a technological challenge for the blockchain industry. Cardano is currently one of the most decentralized networks, with over a thousand pool operators producing blocks. It is imperative that Cardano maintains its current decentralization and does not close the door to further growth. However, increasing scalability is also essential to the mission Cardano is trying to fulfill.

Ouroboros Leios is a major extension to the current PoS consensus that will significantly increase scalability and maintain the current level of decentralization. Let’s take a look at the details known so far.

This article was prepared by Cardanians with support from Cexplorer.

Go to the article with pictures describing how Ouroboros Leios works: https://cardanians.io/en/how-ouroboros-leios-will-change-the-cardano-consensus-211