The introduction of Ouroboros Pears represents a significant advancement in the scalability and efficiency of the Cardano network, which will help the network consolidate its position as one of the leading cryptocurrencies in the blockchain ecosystem.
Cardano’s constant evolution is reflected by the introduction of Ouroboros Pears, an extension of the Ouroboros Praos protocol, which has captured the attention of the crypto community.
This new protocol, which was presented by Input Output Global in the middle of last month, effectively addresses the problem of “settlement horizon” in transactions, considered a crucial factor to improve security and efficiency in the blockchain network.
Decoding Cardano's new protocol: Ouroboros Pears
Ouroboros Pears is a protocol that significantly reduces transaction confirmation time within the Cardano ecosystemThis protocol is designed to improve the efficiency and speed of transaction confirmation by addressing the slow finality times characteristic of Nakamoto-style consensus on blockchain networks like Bitcoin.
In the Nakamoto consensus model, blockchain forks are common and users can only be sure that their transactions have settled after a sufficient number of blocks are built on top of the block containing the transaction.
However, the company that develops Cardano explained that Ouroboros Peras builds on Ouroboros Praos and operates in a synchronous environment, meaning that it assumes that all messages are delivered within a fixed time limit and that the parties have synchronized clocks. This synchronization allows for faster and more reliable agreement on the state of the blockchain, resulting in faster and more secure transaction confirmation. In addition, Ouroboros Peras uses protocols based on BFT (Byzantine Fault Tolerance).
«The main idea behind Peras is to improve Praos with a mechanism where SPOs implicitly signal their support for blocks that are slightly behind the tip of their preferred chain. Votes increase the weight of a chain (the «base» weight is given by the blocks in the chain) and parties select the heaviest chain that they consider to be their preferred chain.», he pointed IOG.
SPOs are key to fast settlement
According to IOG, Ouroboros Pears focuses on shortening transaction settlement times, meaning the likelihood of a transaction being reversed is drastically reduced within a shorter period. This approach not only improves security and usability, but also optimizes the operational efficiency of the network.
On the other hand, the key to the Peras protocol lies in the use of participation-based voting, where the Participation Pool Operators (SPO) can increase the weight of the blocks that are supported by the majority.
Unlike other protocols that rely on chain length, Ouroboros Pears modifies the chain selection rule to choose the heaviest chain. This fundamental change allows for faster transaction confirmation, which is essential for applications requiring high availability and reliability.
More efficient and reliable transactions
Fast settlement is an essential concept in the blockchain space, especially when used for high-value transactions.
In situations where payments are being made, it is crucial that the transaction is confirmed quickly to avoid inconveniences. For example, when purchasing a low-cost item, users may accept a higher risk of reversal for a shorter waiting time. However, for higher-value transactions, such as purchasing a car, it is critical to wait until the probability of reversal is minimal.
Additionally, fast settlement is vital for bridges to sidechains, where users transfer funds from the main chain. Shorter settlement time ensures transactions are more efficient and reliable, which in turn improves the user experience and encourages technology adoption.
Comparison between finality and settlement in blockchain transactions
In the blockchain industry, it is critical to differentiate between the concepts of “finality” and “settlement” in the context of transactions.
Protocols based on Byzantine Fault Tolerance (BFT), as Algorand, achieve near-instant transaction completion. On the other hand, protocols like Ouroboros, which are based on probability, offer settlement that becomes more robust as blocks are added to the chain.
This difference is crucial to understanding how the new Pears protocol fits into the Cardano ecosystem. While finalization provides immediate confirmation, settlement allows for a more flexible and adaptable approach to transaction security.
Synergy between Pears, Hydra and Mithril on Cardano
On the other hand, Ouroboros Pears is not alone in its mission to improve Cardano's scalability. Other solutions such as Hydra y Mithril they also play an important role. Hydra, a Layer 2 scaling solution, allows participants to process transactions off the main chain, thereby increasing the network's capacity. Similarly, Mithril Provides certified snapshots of the blockchain state, facilitating rapid node synchronization.
The combination of these technologies promises to elevate the user experience on the Cardano network by allowing more transactions to be recorded and settled quickly. Together, Pears, Hydra, and Mithril form a robust ecosystem that responds to the demands of an ever-evolving market.
Cardano maintains its research-based approach
The development of Ouroboros Pears is based on an open, evidence-based engineering approach, which is widespread in the development of the network. Thus, every technological advancement in Cardano begins with ideas and research papers that are formalized through algorithms and testing. This process includes simulations and prototypes that allow the developer community to visualize and analyze the behavior of the protocol.
