Ouroboros - Cardano's consensus

Today, I want to introduce you to the fascinating world of consensus methods , particularly within the context of the Cardano blockchain, A Consensus is a method used to reach agreement over something across a group of nodes.

At the heart of Cardano’s consensus mechanism lies Ouroboros, meticulously designed to ensure the integrity and reliability of the network.

Imagine Cardano as a big digital ledger, where everyone agrees on what transactions are valid. Ouroboros helps us do this fairly and securely.

Instead of using lots of energy like Bitcoin does, Cardano uses something called Proof of Stake. This means, YOU! As a participant in the network…… the more you have invested in Cardano, the more say you have in confirming transactions!
It’s like voting with your money.
You can refer to Ouroboros as a “ Longest CHAIN” Protocole.

To make sure nobody cheats, Cardano uses a special kind of random number generator called a VRF ( verifiable random functions)
. This helps pick who gets to add new transactions to the ledger, keeping things fair and unpredictable.

But what about bad guys trying to mess things up?
Cardano has thought of that too. They have rules in place to make it really hard for anyone to cheat the system. And they constantly update and improve these rules to stay one step ahead.
And to maintain network synchrony and prevent manipulation, Cardano implements a unique approach called Ouroboros Chronos, synchronizing nodes’ clocks in a trustless manner.

So, with Ouroboros, Cardano keeps your transactions safe and secure, ensuring everyone plays by the rules. It’s like having a super-smart guardian watching over your digital money.

Thank you for watching