Proof Of Stake

You probably already know that Cardano uses an algorithm known as Proof of Stake (PoS) to secure the blockchain, and maintain consensus between validators. You might also know that Ethereum is planning to transition to PoS to unlock some of the same benefits enjoyed by Cardano such as faster transaction speeds, lower transaction costs, reduced power usage and a vastly better environmental impact.

You may not know that the Ethereum design (code named Casper) is proving more complex to implement than initially anticipated and has been repeatedly delayed.

This article by Professor Aggelos Kiayias (IOG Chief Scientist) compares Ouroboros (the Cardano PoS implementation) against Casper. What’s interesting is that it was written 4 years ago in 2018. And since then Ethereum has not materially progressed.

Cardano at that point did not have an implementation of its decentralised PoS implementation Ouroboros Praos in production, and so it was fair to criticise it as vapourware (as critics did repeatedly). In 2022, when Cardano has been running the worlds largest PoS network without missing a beat for 2 years, not so much…

Reading the article from the vantage point of 2022 with the next major scaling upgrade to the Cardano network due very soon (Vasil) it becomes clearer just how strong the scientific basis for the Cardano technology roadmap is. And the tremendous progress that has been made in the intervening years.