IOHK | Ouroboros Praos Scalability
Channel: Input Output
Date: 01/10/2017

Ouroboros Praos is a novel proof-of-stake protocol designed by IOHK researchers, Bernardo David, Peter Gaži, Aggelos Kiayias and Alexander Russell. The previous protocol, Ouroboros, is the blockchain protocol underpinning Cardano, a top ten cryptocurrency by market capitalization. 

Ouroboros Praos improves scalability compared to Ouroboros, thanks to the different way of generating randomness for the protocol.

The Ouroboros protocol stands out as the first proof of stake algorithm that is provably secure, meaning that it offers security guarantees that are mathematically proven. This is essential for a protocol that is intended to be used in cryptocurrency, an infrastructure that must be relied on to carry billions of dollars worth of value. 

In addition to security, if blockchains are going to become infrastructure for new financial systems they must be able to comfortably handle millions of users. The key to scaling up is proof of stake, a far more energy efficient and cost effective algorithm, and as such this research represents a significant step forward in cryptography. Ouroboros also has the distinction of being implemented – the protocol will be an integral part of Cardano, a blockchain system currently in development.


https://iohk.io/team/aggelos-kiayias/

https://iohk.io/team/bernardo-david/

https://iohk.io/team/peter-gazi/

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Input Output

See more at: https://iohk.io    

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See more on Cardano: https://iohk.io/projects/cardano/

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