The IOHK Research group published a document on the internal mechanisms of the PoS protocol of its own design - Ouroboros Genesis. The company's developers claim that the Ouroboros Genesis protocol is currently the only peer-reviewed and arguably safe PoS consensus algorithm.
IOHK is the parent company of Cardano cryptocurrency, which is included in TOP-10 by market capitalization. The latest update of the Cardano Ouroboros protocol will allow new users to download the blockchain from the genesis block without using a control block or any information about the users of the system.
Earlier in PoS protocols, this feature was not available, remaining a feature of PoW.
Simply put, with the latest update, the Cardano Consensus protocol will combine the benefits of PoS scalability with PoW security.
The updated algorithm is part of a series of developments that will help Cardano turn from a centralized cryptocurrency into a fully decentralized and autonomous system.
After the announcement of IOHK in social networks, disagreements arose. One of the first who became interested in the project was Vitalik Buterin, who at Reddit asked Charles Hoskinson (Charles Hoskinson), the creator of the Cardano cryptocurrency, to give more explanations about the project itself. In the discussion, Buterin expressed skepticism about the development, and Hoskinson took his criticism at his own expense, commenting Buterin words in his Twitter.
In general, the implementation of the protocol has not yet been discussed; Nevertheless, the promising results seem to have aroused investor interest, which triggered a significant increase in the market capitalization of Cardano.
After the release of the new version of the protocol, Cardano challenges the leadership of the Etherium, which for more than two years has been working to improve the scaling and safety of PoS consensus. However, the developers of the Etherium are forced to be more cautious, since their blockchain already carries a load of a large number of working projects. The first phase of the Casper protocol with hybrid PoW / PoS mining is expected this fall.