Feb 22, 2020 18:30 UTC
Feb 22, 2020 at 18:30 UTC
Cardano’s Ouroboros Byzantine Fault Tolerance (also known as BFT) protocol has been effectively deployed. This brings the Cardano blockchain closer to entering its “Shelley Era” which will bring about Proof of Stake (PoS), as indicated by Charles Hoskinson, the CEO of IOHK.
Cardano’s Proof of Stake Protocol Updated Successfully
Charles Hoskinson, the creator of Cardano, shared an update by means of Twitter, saying that the OBFT period of the blockchain has started.
Hardfork successful. The OBFT era has begun
— Charles Hoskinson (@IOHK_Charles) February 20, 2020
This denotes a significant achievement both for IOHK as well as for Cardano. The execution of the Ouroboros Byzantine Fault Tolerance (BFT) protocol implies that the system is preparing to enter its Shelley Era.
In a February 19 update, IOHK’s chief of communications, Tim Harrison, said that the Ouroboros BFT will act as a “stepping stone” that will transition Cardano from a unified to a decentralized, proof of stake blockchain.
Shelley Comes Closer with Ouroboros
Harrison clarified that the recently updated protocol empowered the organization to change the Cardano blockchain from Ouroboros Classic, the accord protocol it right now utilizes on the Byron Mainnet, to the Ouroboros Genesis, the protocol that self-control the Shelley Mainnet once it is launched.
The execution of OBFT has been known as a “hard fork,” yet Harrison noticed that it was simply a protocol update that the organization has been chipping away at for as far back as year and a half.
The event didn’t influence users taking part in the Shelley Incentivized Testnet or those holding their ADA in Cardano’s Yoroi and Daedalus wallets.
Harrison stated –
“So this is a really positive next step in the development of the Cardano platform, but it’s also something that’s happening very much behind the scenes.”
IOHK is yet to set a specific date for the launch of the Shelley Era.