Introducing Ofelimos: a proof-of-useful-work consensus protocol
IOG research introduces a new, provably secure, consensus protocol to minimize the energy wastage of proof-of-work blockchains
16 August 2022 11 mins read
The minimization of proof of work's (PoW) energy cost and carbon footprint is one of the most hotly discussed topics in the crypto space. Substituting the PoW primitive in Nakamoto's longest-chain protocol with a proof of useful work (PoUW) has long been theorized as an ideal solution in many respects but, to this day, the concept has lacked a convincingly secure realization.
Today, at the leading international cryptology conference, Crypto, Input Output Global, Inc (IOG) introduces Ofelimos, a novel PoUW-based blockchain protocol whose consensus mechanism simultaneously realizes a decentralized optimization-problem solver. The…
Kachina: privacy-preserving smart contracts
Leveraging ZK Snarks to enable privacy-preserving smart contract functionality without sacrificing decentralization characteristics
5 August 2022 4 mins read
Smart contracts present a standard approach to expressing complex interactions between two or more parties willing to exchange currencies or data in a decentralized way. Smart contracts are effectively automated digital agreements on a blockchain. Written in code, they can track, verify and execute the binding transactions of a contract when predetermined conditions are met. To…
An analysis of the research underpinning Cardano's scalability
Taking a closer look at IOG research, part 4. How layer 1 and layer 2 solutions create a faster and more resilient blockchain
19 July 2022 7 mins read
Before you start, read:
- Part 1: Cardano's foundational research overview
- Part 2: Overview of the research enabling smart contract support on Cardano
- Part 3: Research overview: tokens, stablecoins, and fees
Previous blog posts delved into the foundational research that enabled Cardano’s multi-functional ledger support for expressive smart contracts and native assets.
As part of the Basho development phase, Cardano is undergoing steady upgrades and optimizations for increased scalability and interoperability. The ‘How we are scaling Cardano in 2022’ post reflected on Cardano’s scalability goals, and also discussed interoperability and the role of sidechains…
Research overview part 3: tokens, stablecoins, and fees
IOG research enabled the implementation of multi-asset support, stablecoins, and friendly fees on Cardano
7 July 2022 5 mins read
Before you start, read:
- Part 1: Cardano's foundational research overview
- Part 2: Overview of the research enabling smart contract support on Cardano
Our previous post discussed Cardano’s innovative EUTXO model and how it facilitates expressive smart contracts on Cardano. This time, we take a closer look at the research that enabled multi-asset support and the creation of a variety…
Introducing the Cardano EVM sidechain
The Cardano EVM sidechain is a fully decentralized scalability solution deployed by IOG. Find out more about its features, benefits, and delivery plans
6 July 2022 6 mins read
Cardano is growing. Expanding. The Vasil upgrade will open up even more opportunities for efficient development and usage of various DApps and DeFi products on Cardano.
Sidechains and layer 2 solutions are key to increasing scalability for projects building on Cardano. In this post, we discuss what sidechains are and how they contribute to an ecosystem of interconnected…