Live deployment of Ouroboros Leios, Cardano's latest consensus algorithm, opens for public feedback and scrutiny
Cardano, the decentralised blockchain platform, has taken a significant step forward in its quest for increased network throughput. The Cardano community has approved a funding of 96 million ADA (approximately $71 million) for a year-long series of core upgrades.
The funding approval marks the first time treasury funds have been directly allocated to core development in Cardano. This funding will be instrumental in driving the implementation of the Cardano Improvement Proposal (CIP) "Ouroboros Leios," a significant milestone in Cardano's long-planned upgrade.
The Leios CIP, publicly announced by Nicolas “BeRewt” Biri, Input Output’s director of software architecture, and key-noted by Cardano's founder, Charles Hoskinson, aims to boost transaction throughput and scalability while minimising impact on decentralised applications (dApps) and maintaining the network’s security model and decentralization.
The concept of the Cardano upgrade was developed with a deliberate avoidance of a path similar to Solana. Cardano's team has opted for a balance that does not sacrifice decentralization or security, understanding that Cardano's security model limits certain speed optimizations. This means that matching Solana's speed would require reducing decentralization, reliability, or cost efficiency, a trade-off the Cardano community has not been willing to take.
Some members of the Cardano community are questioning whether the network will need to make the same trade-offs as Solana to achieve higher throughput. The team is currently reviewing the design choices and trade-offs for the Leios variant, implementation materials, potential positive effects on script budgets, and resistance to attacks.
The draft of the Leios CIP now includes feedback on failed transactions and aims to have minimal impact on dApps. The CIP includes formal specifications, implementation details, script budget improvements, attack resistance measures, and handling of failed transactions.
The Leios CIP has been made publicly available and is currently open for community review. The public release was announced by Nicolas "BeRewt" Biri on August 27. The funding is intended for a series of upgrades, with the primary goal being to move towards high-throughput, scalable, and community-driven development.
The Cardano community has deliberately avoided a path similar to Solana, opting for a balance that does not sacrifice decentralization or security. With the funding approval and the public release of the Leios CIP, Cardano is one step closer to achieving its goal of increasing network throughput while maintaining its commitment to decentralization and security.
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