Input Output Global, the technology firm behind Cardano, has announced the release of a new stage in the protocol's development. Ouroboros Peras, the new version, enhances the previous Ouroboros Praos by addressing the transaction settlement horizon.

The New Ouroboros Peras Protocol

Ouroboros Peras is an extension of the previous Ouroboros Praos protocol, focused on solving the settlement horizon of transactions. This is the point in time where the probability of a transaction being reverted becomes negligible.

Core Principles of Ouroboros Peras

The key principle of Peras is to use stake-based voting to heighten the weight of blocks agreed upon by most stake pool operators. The chain selection rule is then modified to select the heaviest chain rather than the longest.

Scaling Cardano: Innovations and Solutions

The anticipated expansion of Cardano's ecosystem requires several scaling solutions. Hydra and Mithril have seen substantial development in this context. Meanwhile, new versions of the Ouroboros protocol, including Peras and Leios, are being developed to improve layer-1 performance.

The innovations in Ouroboros protocols aim to enhance user experience by enabling faster recording and settling of more transactions on the blockchain.