The Byron phase of Cardano

With this article, we will analyze in detail the Byron phase of Cardano. If, on the other hand, you want to learn more about the other phases, you can find the articles below:

The Cardano roadmap: dedicated article to learn more about the roadmap
Shelley phase: involves the development, growth, and decentralization of the network.
Goguen phase: the creation of protocols for smart contracts will be achieved, expanding the uses of Cardano to a wider audience.
Basho phase: a phase of the roadmap in which the optimization of network processes will be carried out, offering greater scalability and speed in transactions.
Voltaire phase: the governance of Cardano will be developed with complete self-sustainability in the network from both a technological and an economic point of view.

Introduction

Carrying out a project such as the Cardano network, based on an innovative protocol, has led to a rather long time, with the need to establish precise indications on its networking and subsequent development, to give certainties to users who wish to participate in the project.

Let’s see below what are the various phases of the Cardano roadmap, analyzing in detail the Byron one and the innovations that have been introduced into the network through it.

The Byron phase of Cardano: what it foresees, the vision and the timing

The question that arises, analyzing the related news on the development of Cardano, is whether the phase defined by Byron, i.e. that of its foundation and networking, has ended. The answer to this question is positive. It is the first step in the process for the development of the Cardano network which began in 2017 after two years of planning and studies and ended in the first quarter of 2019, thus moving on to the next one, namely Shelley.

It provides for the definition of the protocols and technologies necessary to implement the vision of this innovative blockchain network. In this perspective, the Byron phase reflects the idea of its founders, Charles Hoskinson and Jeremy Wood, to create a third generation of cryptocurrencies, thanks to a protocol that offers more flexible instruments than Bitcoins, while at the same time recalling the advantageous characteristics of other digital currencies.

The Byron phase of Cardano, therefore, put an end to the design of the network protocol and its introduction within the network itself, offering the possibility for users to use the cryptocurrency connected to the system: the ADA. A name that takes up the romantic nomenclature used throughout the roadmap, since it refers to Ada Lovelace, daughter of the English poet George Byron, a mathematician, researcher, and writer to whom we can attribute the first formulation in the world of a mathematical algorithm.

This phase of the Cardano roadmap has involved more and more users in the project, with the formation of a community necessary to develop the next phases, with the creation of decentralization and through the blockchain network.

The changes that have occurred on the blockchain with the Cardano roadmap

The introduction of the Cardano system has also led to numerous innovations in the blockchain network. In particular, innovations can be identified in the field of network protocols, in the development of new technologies, in the optimization of blockchain processes, and in making exchanges on exchange platforms more transparent and simpler.

1 – Cardano’s proof-of-stake protocol

The whole Cardano system was developed on an innovative protocol called Ouroboros proof-of-stake, inserted into the network in the Byron phase and continuously updated with new variants and algorithms that are ever faster, safer, and more effective.

Furthermore, a system was envisaged that would allow users to view information on transactions through the block explorer, controlling addresses, timing, and amounts transferred, to offer maximum transparency in every process envisaged on the network.

2 – The inclusion of digital and paper wallets

With the Byron phase, the first digital wallet developed by the IOHK company was entered, to which the creation of the Cardano protocol and the development of the Ada cryptocurrency is connected. The name of this wallet is Dedalus and it offers the possibility of downloading it on all types of platforms: Windows, Apple, and Linux.

Subsequently, the Icarus project was created by the Emurgo company, prepared to develop the commercial aspect of Cardano, with the creation of a wallet, identified with the name of Yori, which offered greater speed for the registration of transactions. This is possible due to the presence of an innovative interface that does not require having to download the entire blockchain for block verification.

Finally, users have also been offered the possibility of depositing Ada cryptocurrencies offline, with the creation of paper wallets: through these, it will be possible to archive the code of their Ada cryptocurrencies and in this way keep digital currencies safe even for long-term investments.

3 – The optimization of the blockchain

Making the blockchain more efficient, with fast block closure and greater operations, was one of the main reasons that led to the creation of the Cardano network. In the Byron phase of the roadmap, the synchronization of blocks was therefore improved, speeding it up and offering the possibility for a larger number of users to operate simultaneously.

This has also led to an improvement in the archiving of data that is kept inside the hard disks of the individual blocks, decreasing the space needed to contain all the information of the blockchain. Finally, a particular blockchain called Testnet was developed, aimed at testing and verifying the reliability and speed of the latest version of the Cardano code, introduced in the Byron phase.

The Testnet system can be used by exchanges, by users of the community, and by the developers themselves in order to obtain a series of indispensable information to improve the efficiency of the Cardano protocol.

4 – The improvement of trading on exchanges

The optimization of the storage system, with a high synchronization capacity within the Cardano blockchain, has led to an increase in the number of trades that can be carried out within an exchange platform.

In addition, a system has been introduced in order to improve trading with large amounts or volumes, offering a series of interfaces that allow transactions to be carried out offline.

5 – Technical support

A technical support team was created by the IOHK company aimed at intervening on the network in case of problems on individual blocks, very effective thanks to the Prometheus interface.

Furthermore, within the Dedalus wallets, a support system has been inserted which allows the IOHK company to intervene in the event of errors or bugs, upon notification of the individual user, solving any problem in real-time.

6 – The creation of Medusa

Finally, with the Byron phase of Cardano, the Medusa system was developed, a 3D graphic representation that can be used by users to see the entire history of the development of the Cardano project in real-time, displaying the technical activities behind the individual improvements and observing the growth of the community.