Ouroboros Praos
What is Ouroboros Praos?
The second iteration of the consensus protocol created by IOHK, Ouroboros Praos, is an upgrade over the original Ouroboros Classic. It was the first formal proof-of-stake method to have its security validated using a strict cryptographic model.
By offering a novel “layered” approach to the protocol, Ouroboros Praos enhances the security assurances of classic while enabling it to scale gracefully with the network’s size. Making a common and accepted cryptographic assumption, the algorithm is provably secure in the asynchronous situation.
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