CARDANO: ETH AND NEO KILLER? OR IS EOS BETTER? WRITTEN REPORT

WHITEPAPER

Introduction

-Early calculations indicated that the energy requirements of the bitcoin protocol were comparable to that of a small country

-Previous work
~Being based on heuristic security arguments, these cryptocurrencies have been frequently found to be deficient from the point of view of security

-The PoS Design Challenge
~Simulate the leader election process
~May be prone to manipulation by the adversary

-Our results
~Ouroboros, a provably secure proof of stake system
~Focusing on persistence and liveness
~Novel blockchain protocol based on PoS
~Parties can freely create accounts and receive and make payments, and that stake shifts over time
~Set of formal agreement establishing that no adversary can break persistence and liveness
~Incentive structure of the protocol
~Stake delegation mechanism that can be seamlessly added to our blockchain protocol

-Related work
~Snow White
~Algorand
~Fruitchain

Model

-Time, Slots, and synchrony
~Current slot is determined by a publicly-known and monotonically increasing function of current time
~Each play has access to the current time

-Transaction Ledger Properties
~Persistence
~Liveness

Protocol: Overview

-Stage 1: Static Stake
~Trust assumption is static and remains with the initial set of stakeholders

-Stage 2: Dynamic state with a beacon, epoch period of R slots
~Central idea for the extension of the lifetime of the above protocol is to consider the sequential composition of several invocations of it

-Stage 3: Dynamic state without a beacon, epoch period of R slots and delay
~Remove the dependency on the beacon, by introducing a secure multiparty protocol with guaranteed output delivery that simulates it

-Stage 4: Input endorsers, stakeholder delegates, anonymous communication
~Augment the protocol with two new roles for the entities that are running the protocol and consider the benefits of anonymous communication

Incentives

-Input Endorsers
~In order to address incentives, we modify further our basic protocol to assign two different roles to stakeholders

ROADMAP

TEAM

-Charles Hoskinson

PARTNERS & BACKERS

-Emurgo
-IOHK
-Sirin Labs

ARTICLES

The reason why we love Charles Hoskinson. Not only is he really smart, but also very profound
https://www.reddit.com/r/cardano/comments/7vwabd/the_reason_why_we_love_charles_hoskinson_not_only/

Good morning and good news. Cardano was just mentioned on Bloomberg
https://www.reddit.com/r/cardano/comments/7nuf6w/good_morning_and_good_news_cardano_was_just/

Cardano: ETH and NEO killer or overpriced?
https://hackernoon.com/cardano-ethereum-and-neo-killer-or-overhyped-and-overpriced-8fcd5f8abcdf

VIDEOS

CARDANO: ETH AND NEO KILLER? OR IS EOS BETTER?

Cardano – Simply Explained

COINCHECKUP

CONCLUSION

Cardano is a protocol that is built to improve the problems we see with bitcoin and ethereum. They provide a system that can easily be scalable and easy for developers to create smart contracts and Dapps on their platform. Cardano claims to be the third generation of blockchain as well as IOTA and is willing to fix current problems. The Cardano leader is a very brilliant man who worked on the ethereum platform and has created several different projects. I think that Cardano can be a good competitor against ethereum, but we won't be able to truly tell until we see more projects being built on the Cardano protocol. We did just hear a new partnership with Sirin Labs which built the Finney phone, the first decentralized and worlds most secure phone out there. This was a huge partnership and proves that Cardano can live up to the task of competing against Ethereum and Neo.

https://twitter.com/AndrewFujan18