What is “formal verification” of cryptocurrency software?
You may have heard that Cardano ADA is aiming for formal verification of its core software. What does it mean for software programs to be formally verified? Why is it important for cryptocurrencies? In this article we take a quick and superficial look at formal verification and why it may be desirable in the future […]
ELI5 Cardano Staking & Basic FAQ
In this article we look at the very basics of Cardano staking. If you’ve got any experience whatsoever with other Proof of Stake coins, then you probably don’t need to read this intro. Although cryptocurrency staking is a complex process, readers need zero previous knowledge in order to understand this text. Cryptocurrencies work in a […]
Building the Haskell cardano-node on Linux
tl;dr; Jump straight to the build instructions The Details Looking forward to the Haskell mainnet, the next step in the Cardano project, I’ve begun exploring the cardano-node Haskell implementation. I find that exploring source code is much easier if you actually watch the program run for a while. So, the first thing a developer has […]
ELI5 Semi-formal Cryptocurrency Development
We’ve previously discussed formal software verification as related to crypto programming. Today we’d like to discuss an intermediary concept called semi-formal cryptocurrency development. Brief Review of Formal Verification In formal verification, every single possible logical state of a computer program must be mathematically proven. This kind of proof can consume tens, even hundreds, of pages […]
Concepts In This Page
Cardano is a 3rd generation cryptocurrency which is developed based on scientific methods, peer review and aims for formal verification and on-chain governance and compliance.
Cardano Staking is the process by which network participants delegate their Proof of Staking voting rights to a Cardano ADA mining pool.
jcli is Jormungandr's (Cardano ADA full node written in Rust) command line tool (CLI)
Jormungandr is a Cardano ADA full node implementation written in the Rust programming language.
Proof of Stake
Proof of Stake is a consensus mechanism in which block verifiers prove their commitment to the network by staking their coins instead of by proving they performed some work (contrast with Proof of Work).
Staking is the process by which users delegate their Proof of Stake voting rights to a staking pool. The pool then verifies transactions on the users' behalf and, similarly to mining pools, share some of the profits back with the stakers.
A Staking Pool is an organization which verifies transactions on behalf of others in a Proof of Stake consensus system. Stakers delegate their voting rights to a staking pool which, in turn, verifies blocks 24x7. In exchange for the voting rights, the pools share the block rewards with the delegators.