Cryptocurrency News

Cardano Speculates Ouroborus-BFT Hard Fork In February 2020


Taking pride in being the first blockchain network to be designed using a scientific philosophy and research-focused mechanism, Cardano is anticipatingly gearing up for an OBFT hard fork in mid-February, 2020. A few months back, the Cardano community announced the launch of the Shelley Incentivized Testnet software based on Jormungandr version 8. With the infusion of the Shelley software into the blockchain network, the Ouroborus BFT consensus will be implemented, which will channelize the shift from the consensus algorithm to the proof-of-stake mechanism.

According to the official announcement, OBFT will serve as the first PoS protocol lying in alignment with the security excellence of Proof-of-Work protocols. During an interaction, Charles Hoskinson, the Founder and CEO of IOHK, stated that his team is in constant discussions with the exchange partners regarding the successful conduction of the hard fork. He affirmed that the team is striving to have the necessary “infrastructure lined up” for the hard fork in February 2020.

..infrastructure looks good, so mid-February we anticipate an OBFT hard fork. So, there will be an upgrade to the software for that and the Haskell wallet back-end is being integrated with the Haskell node for the Byron reboot,

quoted IOHK executive in a recent video.

Looks like we are on the last mile of the hardware support. So at some point, you will be able to restore your ledger devices into Daedalus. You could manage ledger accounts and keep your private keys on the ledger device,

added the executive.

The Cardano network is working hard for the release of the Shelley Haskell testnet, while the incentivized testnet has been on a weekly release since its release in the early phase of January. Hoskinson also stated that work is being done on drafting the final simulations of Shelley—the Hydra Project. The project is likely to strengthen the position of Cardano in the community as according to the claims of the firm; the protocol is five times faster in comparison to Ethereum.

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