Hoskinson: Cardano Plans To Have Its Blockchain Used For 2022 Wyoming Republican/Democrat Primaries
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The CEO of IOHK, Charles Hoskinson, has recently announced the date for Epoch 257, the day Cardano Staking Pool Operators will completely gain control.

According to Hoskinson, 31st March 2021 is the day several Staking Pool Operators have been waiting for.

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Charles Hoskinson tweeted, “Is everyone ready for epoch 257 on 2021-03-31 d=0 day -> d(0)day when Cardano is completely in the hands of the SPOs!”

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What Are Slots and Epochs

The Cardano blockchain utilizes the Ouroboros Praos protocol to facilitate consensus on the chain. Ouroboros Praos partitions time into epochs. Each Cardano (ADA) epoch consists of a number of slots, where each slot lasts for one second.

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At the moment, a Cardano (ADA) epoch includes 432,000 slots, which implies five days. In any slot, zero or more nodes that produce blocks could be nominated to be the slot leader. Averagely, one node is expected to be nominated every 20 seconds, which represents a total of 21,600 nominations per epoch.

On the other hand, if slot leaders that were selected randomly produce blocks, one of them will be added to the chain, while other candidate blocks will be discarded.

Electing a Slot Leader

The Cardano network consists of a number of stake pools that control the aggregated stake of their owners and other delegators, also known as stakeholders. Slot leaders are elected randomly from among the stake pools.

The more stake the pool controls, the greater the chance it has of being elected as a slot leader to produce a new block that is accepted into the blockchain. This is the concept of proof-of-stake (PoS).

Read Also: Cardano’s Charles Hoskinson: February Is Going to Be a Really Good Month

Transaction Validation by a Slot Leader

Moreover, during transaction validation, a slot leader needs to ensure that the sender has added enough funds to pay for the transaction. Slot leaders must also ensure that the parameters of the transaction are met.

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Solomon Odunayo

By Solomon Odunayo

Solomon Odunayo is an accomplished blockchain and cryptocurrency expert at Herald Sheets, known for his in-depth analysis and engaging articles that cater to both beginners and experienced readers. With a degree in Computer Science from the University of Lagos, Solomon leverages his technical background and keen understanding of the crypto space to provide readers with valuable insights and up-to-date news. His passion for innovation and commitment to staying current with industry developments make him a trusted voice in the digital currency community.