Charles Hoskinson announced the successful launch of Ouroboros BFT hard fork, a major technical update to create a bridge between Byron and upcoming Shelly Era. It signifies the revival of the original Ouroboros Classic protocol and helps Cardano to move forward to flip the switch on centralization.
Hardfork successful. The OBFT era has begun
The development team of Cardano updated its main algorithm, Ouroboros Classic, to Ouroboros Byzantine Fault Tolerance (OBFT). The OBFT is the final upgrade of Byron mainnet evolution before Ouroboros Genesis that will power its decentralized Shelley Mainnet.
The proof-of-stake protocol of Cardano was upgraded on Feb 20, 2020. Neither the ADA holders nor the users of Shelly incentivized testnet was disturbed. The OBFT fork was utilized on the federated Byron mainnet. As per the analysts, Cardano network may achieve the higher transaction speed along with easier portability and adaptability of blockchain after the upgraded version.
The progress is only one of the network upgrades, which is expected before the advent of the Shelly era. The Shelly mainnet that will be powered by the Ouroboros Genesis Protocol may turn the Cardano into one of the most decentralized blockchain projects. The mainnet will permit the community to choose their validators via staking by removing the “training wheels”. It will also add several features which will act as a barrier for hacking validators.
Unlike the Byron Era, the transitions to Shelly is designed for smooth and low-risk transition without any service interruption. The network is federated during Bryon era, which will aim to optimize decentralization after Shelly Mainnet is fully implemented. Currently, the significant blockchain networks are majorly controlled by less than ten mining pools which expose the network to risk of malicious behaviour, which may be avoided by Cardano system, which will encourage greater decentralization.
Cryptocurrency is famous for its “decentralized’’ nature in the financial market. The latest step of Cardano to strengthen the character of digital coins can prove as a source for fresh investments.