Cardano Begins Countdown to Mithril Mainnet Release, Why Mithril?
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
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.
Tomiwabold OlajideCardano 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.
Alex DovbnyaComplimentary 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.
Related articles
Alex Dovbnya
Vladislav Sopov
Dan Burgin