Cardano Launches Innovative Protocol to Match Solana’s Transaction Speed

Solana (SOL) has seen impressive growth in late 2023 and early 2024, rising by over 2,000%. This has seen the platform overtake multiple projects by market cap, currently sitting at number 5. Solana is now the third-largest smart contract platform in the world. However, this position may be under threat as rival Cardano (ADA) tries to catch up.

Cardano is taking significant steps to increase the transaction speed of its network, without compromising on decentralization. Founder Charles Hoskinson announced that additional efforts are being made to bring the platform’s processing speed on par with Solana. In this context, the Cardano community is involved in decision-making on further technological improvements.

Recently, a poll was held within the Cardano community, led by prominent member Rick McCracken. Participants were given the choice between two proposals that would strengthen the network. Of the 1,798 participants, 56% chose to implement the Leios protocol, while only 7% preferred to develop a Rust-based node.

The benefits of the Leios protocol

The Leios protocol, with an estimated budget of 12 million ADA, introduces a new method to significantly increase transaction throughput. The protocol introduces “input endorsers” and separates transaction validation from block creation. This innovative system allows for a significant increase in transaction throughput without compromising the decentralized nature of the Cardano network.

Hoskinson emphasizes that the Leios protocol offers more advantages than the Rust node, which would not introduce any new features for users. Given its potential and community support, Input Output Global (IOG), the company responsible for the development and maintenance of the Cardano blockchain, is currently working on the design of Leios. An accelerated rollout is expected, with a release tentatively scheduled for Q4 2024.

Conclusion

With the implementation of the Leios protocol, Cardano can take a big step to accelerate its network and catch up with competitors such as Solana. The coming months will be crucial for the future of both platforms.