Charles Hoskinson has acknowledged that the upcoming upgrade for the Cardano network is overdue and is expected to bring significant improvements. He noted that developers may prioritize an upgrade focused on validation zones following the implementation of the Peras upgrade. This aligns with the perspective of Cardano developer Andrew Westberg, who characterized the Cardano Improvement Proposal (CIP) as an “elegant solution” to ongoing challenges, particularly by introducing composability and ‘Babel Fees’ to the ecosystem.
The proposal aims to enhance the efficiency of the extended Unspent Transaction Output (eUTXO) model and make necessary adjustments to validation zones, which are crucial for supporting specific transaction types.This initiative comes on the heels of Hoskinson defending Cardano against recent criticisms. He asserted that the transition to the Voltaire era would effectively address long-standing issues within the network, suggesting that critics often misinterpret the blockchain’s development trajectory.
According to Input Output, the Ouroboros Peras protocol represents an advancement of the Ouroboros Praos protocol, designed to minimize transaction reversal risks. It utilizes stake-based voting to enhance the importance of blocks that gain consensus from the majority of stake pool operators (SPOs), adjusting the chain selection rule to prioritize the heaviest chain.
Hoskinson further praised the Peras release as “one of the best-prototyped protocols,” emphasizing its critical role in effectively scaling the Cardano network.
October 2024, Cryptoniteuae