21 February, 2020 | AtoZ Markets – The IOHK has made a significant update which is part of the launch of the Shelley era functionality on the Cardano mainnet. The mainnet has now switched from the mainnet of the original Ouroboros Classic (Byron Era) consensus protocol to an updated version, Ouroboros BFT. According to the announcement:
"After comprehensive testing on our test network, we are now preparing to switch from the mainnet of Ouroboros Classic to Ouroboros BFT."
The announcement added that the update offers a simpler migration route from Ouroboros Classic to Ouroboros Praos. Technically, this update can refer to as "hard fork", a planned and managed upgrade of the protocol. It will serve as a bridge between Ouroboros Classic and Ouroboros Praos, which will fuel the Shelley era.
What is Ouroboros BFT?
Byzantine fault tolerance (BFT) is a secure consensus protocol, but the original version made several compromises in terms of decentralization. Ouroboros BFT is a BFT algorithm that relates to the Ouroboros family. The Ouroboros family also contains Ouroboros Classic, the protocol that currently works on the Cardano mainnet. IOHK stated:
"We will fully migrate to the decentralized Shelley era later this year. Then, we will implement the Ouroboros Praos."
It is a BFT consensus system that is capable of continuing to operate even if some of the nodes fail or act maliciously.
Read More: IOTA Trinity Wallet Users Must Use Seed Migration Tool
OBFT Hard Fork Update
Holders of ADA were strongly encouraged to upgrade to Cardano 1.6.0 to avoid experiencing problems or service interruptions. However, no new token was generated during this fork.
Daedalus users should check that they are using the latest version 0.15.1. It will ensure that their wallets support the Cardano OBFT hard fork and to continue to enjoy optimal performance. Moreover, users can always check which edition they are using by looking at the top of the application window.
The Shelley era of the platform, which has experienced several setbacks, focuses entirely on letting the community decide on block validators through stakes. Shelley will also see the initiation of an incentive system, a reward system to encourage picket pools and community adoption. The main network of Shelley will be powered by the Ouroboros Genesis protocol. However, the exact launch date has yet to determine.
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