Cardano (ADA) Blockchain Network to Support Wider Range of Apps, Use-Cases Following Mithril Mainnet Release

Mithril is nearing its mainnet release.

Currently in its final testing stages, Mithril is preparing “for a mainnet launch.”

As noted in a blog post, Mithril is a stake-based signature scheme and “a protocol that improves the speed and efficiency of nodes’ syncing times.”

Mithril reportedly “boosts node syncing time, offers security, and empowers decentralized decision-making.” With Mithril, Cardano’s network “becomes more efficient, streamlined, and capable of supporting a wider range of applications and use cases.”

Mithril’s proof of concept was “released in August 2022.” In December, the team officially presented Mithril, “revealing more about its benefits, applications, and roadmap.” Mithril is now in the final testing stages “before its mainnet release this summer.”

Joining the thriving Cardano ecosystem “means fueling its healthy growth.” The network combines thousands of distributed nodes into a unified system, “enabling seamless communication for sharing data on new blocks and transactions.”

There are two ways to participate in the Cardano network:

  • Run a full node, which requires downloading and validating a full copy of the blockchain (~100GB today)
  • Run a lightweight client by accessing trusted third-party APIs.
  • Each node’s synchronization demands time and specific software and storage prerequisites, while lightweight clients rely on third-party APIs.

Leveraging Mithril to quickly and efficiently bootstrap a full Cardano node is “the first use case coming with the initial beta release on mainnet.”

Mithril retrieves a snapshot of “the current blockchain state boosting the syncing time for nodes while facilitating strong security settings.”

With Mithril’s evolution, DApp developers will be able “to deploy light clients and mobile applications or streamline sidechain operations.”

Mithril will also “empower stake-based voting applications and governance solutions, regardless of the protocol’s complexity.” Secure and lightweight tally verification through Mithril signatures can “simplify decentralized decision-making, providing verifiable outcomes.”

Mithril’s evolution

The research paper ‘Mithril: Stake-based Threshold Multisignatures’ was published by IOG researchers in 2021, and this updated “discussed how the protocol acts as a stake-based threshold signature scheme allowing for transparent, secure, and lightweight stake leveraging.”

After the release of Mithril’s proof of concept in 2022, the network has “been supported and tested by a group of volunteer stake pool operators (SPOs).”

This testing stage “allowed the team to deliver the signer, aggregator, and client nodes in fortnightly released distributions.” The team also “implemented the stake-based threshold multi-signature scheme and established the process for producing full node snapshot certificates by SPOs.”

The Mithril network is now “being tested in preview and pre-production testing environments, soon to be available as a beta version on mainnet.”

Mithril has a high-level roadmap that includes the following releases:

  • Mithril beta: mainnet protocol launched with a group of volunteer SPOs who assist with testing and prototyping.
  • Mithril MVP (2023): an incentivized protocol with additional features to support basic use cases, such as fast bootstrapping and secure light wallets.
  • Mithril (2024): a fully decentralized and self-sustaining Mithril ecosystem.

The Mithril architecture “comprises three main components: the aggregator, the signer, and the client.” Together, they form “a network of nodes that enhances the efficiency of bootstrapping a Cardano node.”

For more details, check here.


Register Now
Sponsored Links by DQ Promote

 

 

Send this to a friend