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Plutus: Pioneers Program 4th cohort - Ouroboros

Gautier DI FOLCO March 19, 2023 [HaskellBlockchain] #haskell #cardano #smart contracts

Ouroboros is the consensus protocol powering Cardano.

It is the first secured (and proven to be) proof-of-stake (PoS) blockchain protocol.

Unlike proof-of-work (PoW) protocols, only the selected (or elected) leaders (nodes) are building the new block. The leaders are choosen proportionally based on the number of contributed tokens, it's called Stake delegation. Stake delegation consists in ADA/Stake owners assigning their stakes associated to their ADA to a (stake) pool. Each time a leader creates a blocks (and is accept, it is rewarded with ADAs).

Ouroboros have had many versions:

An interesting point raise by the paper came from the benchmark they have ran against Bitcoin. In order to be protected against a hypothetical double spending attacker (for an assurance level of 99.9%) is between 5-10 and 10-16 faster. Which is suprising for me for few reasons:

You can delegate your adas directly from you wallet, stake pools have some interesting caracteristics you want to have a look at:

References:

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