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Cardano's (ADA) Ouroboros Upgrade Will Change Ethereum-Killer Narrative, Here's How

Wed, 02/01/2023 - 10:40
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Godfrey Benjamin
While retaining its PoS feature, Cardano will now see Bitcoin-like security
Cardano's (ADA) Ouroboros Upgrade Will Change Ethereum-Killer Narrative, Here's How
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The primary goal of most Layer 1 blockchain protocols is to displace Ethereum as the dominant network for smart contracts, so many are innovating to achieve this. In the case of Cardano (ADA), the protocol is anticipating its new Ouroboros upgrade that will potentially change the Ethereum-killer narrative once it goes live.

As highlighted by Twitter user and blockchain educator @Soorajksaju2, the Ouroboros Genesis upgrade will seek to address issues of costless simulation and the bootstrapping problem of the protocol, while mitigating the threat of long-range attacks in a decentralized, open environment.

These upgrades will notably position Cardano as a highly functional proof-of-stake (PoS) protocol, whose security is more closely aligned with that of the Bitcoin blockchain. None of the existing Ethereum killers, including Solana (SOL), Avalanche (AVAX) and Polkadot (DOT), has these features.

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The fact that Cardano will brandish advanced security while still maintaining its energy efficiency as a PoS network will further make it a highly appreciated protocol among its peers. The network has remained a high performer, ending January with a lot of new milestones in what appears as the user's recognition of its bright future.

Ouroboros will complement other features

Over the past few weeks, DJED, the most collateralized stablecoin on Cardano, was launched, and the protocol's Sidechain Toolkit made its way to the network, pitching the blockchain as one of the most versatile in this current blockchain ecosystem.

The advent of Ouroboros Genesis will help to complement both of these launched features and products as well as bootstrap those that are yet to be actualized on Cardano.

With Cardano (ADA) pitched as a digital currency that is more resilient than Bitcoin (BTC) in terms of price growth for January, the obvious protocol fortification is bound to boost the blockchain's growth.

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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.