Cardano's 1.5 Mainnet Release Successful, Progress Towards New Proof-of-Stake Protocol

Cardano has successfully deployed its 1.5 mainnet, bringing the protocol a step closer to proof-of-stake consensus that "Matches the security guarantees of proof-of-work protocols such as Bitcoin." The update also includes a number of other optimizations, primarily around the blockchain's crypto wallet, Daedelus.

The release is the final stage of the project's "Byron" phase of development, which includes optimized block storage, tools for programming language Rust, Daedalus for Linux, a Cardano testnet, and other features.

Because the release is uncontentious it is unlikely to split the community or create a separate cryptocurrency.

Cardano is currently ranked 11th with a market capitalization of $1.4 billion.

The 1.5 release also includes progress towards the project's move to a new proof-of-stake consensus protocol.

With 1.5, the project is transitioning to "Ouroboros BFT," which is an intermediary for the projects final consensus algorithm, "Ouroboros Genesis."

According to materials from IOHK, Ouroboros BFT is a common technical "Meeting point" for the two protocols in order to ensure a "Smooth handoff." Allegedly, the update is "Major" because it represents the "First proof-of-stake protocol that matches the security guarantees of proof-of-work protocols such as Bitcoin." The update will not be active immediately with 1.5 and will be announced separately, according to the release.

The 1.5 release also includes a host of other fixes and performance improvements, primarily revolving around Daedelus, Cardano's primary crypto wallet.

Following 1.5, IOHK plans to release a line up of heavy-hitting features in its Shelley development cycle, including Trezor and Ledger Nano S support, Quantum resistant encryption, full multi-signature support, side-chain support, NFC debit cards, and other improvements.

Cardano will unveil more details on its plans for Shelley at IOHK Summit 2019.Did you like this article? Join us.