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Cardano Begins Countdown to Mithril Mainnet Release, Why Mithril?

Thu, 07/20/2023 - 15:45
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Godfrey Benjamin
Cardano has shed new light on core reasons why Mithril is important
Cardano Begins Countdown to Mithril Mainnet Release, Why Mithril?
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The Cardano protocol has hinted that its long-awaited Mithril upgrade is set to hit the mainnet in a relatively short period of time. Acknowledging how close the mainnet launch is, the Cardano protocol teased its community on what the upgrade stands for and the benefits it will usher into the ecosystem.

Cardano Mithril Innovation That Would Improve Speed Gets New Release: Details

Cardano Mithril advantage

According to Input Output, Mithril is designed as a "stake-based signature scheme and a protocol that improves the speed and efficiency of nodes' syncing times." As a proof-of-stake (PoS) protocol, Cardano hosts a number of well-distributed nodes that need to sync in unison in order to foster the utmost efficiency of the network.

Per Mithril's designs, decentralized Cardano decision-making can be further enhanced. Besides the synchronization efficiency it is set to usher in, Mithril will also help boost the security of the protocol as a whole.

The design of Mithril has been ongoing for many months now, with IOHK giving regular updates about its progress in its weekly report. Mithril has been in the beta stage with its proof of concept released in August 2022. The Mithril protocol is now in its final testing stages and is ready for mainnet.

Judging by its architectural design, Mithril can quickly and efficiently bootstrap a full Cardano node, dubbed its very first use case. The tool will also find more practical use cases as dApp developers will be able to design and deploy light clients and mobile applications or streamline sidechain operations.

Cardano Launches First Mainnet-Compatible Hydra Node

Complimentary Cardano upgrade

The Cardano protocol is known as one of the top PoS chains around with a very robust developer base. The impact of this is the continuous rollout of upgrades, tools and innovations that are designed to help bolster the overall functionality of the Cardano protocol.

Hydra, Lace and DJED Stablecoin are some of the revolutionary products that Cardano has ushered in thus far this year.

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About the author

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on, Cryptonews and Coingape, among others.