Cardano 
$0.397631 plans to significantly enhance transaction efficiency through the implementation of a new consensus algorithm called Leios. If the update proceeds as scheduled, it may enable the blockchain network to operate faster than Solana 
$134.
Plans to Increase Scalability While Preserving Decentralization
Ouroboros Leios represents a logical evolution of the Proof of Stake consensus mechanisms powering Cardano’s blockchain, particularly the “Praos” variant. The existing infrastructure is unable to fully utilize network and computing resources at each node. The Leios technical report states:
Current variants of the Ouroboros blockchain algorithm are limited in terms of efficiency… These limitations stem from the nature of data and communication dependencies within the distributed algorithm.
In summary, Cardano’s existing blockchain system is not as efficient as it could be. With Leios, IOHK aims to create a consensus algorithm that significantly increases transaction speeds while maintaining the security of the existing infrastructure.
Development Efforts Will Accelerate in Q4 2024
Leios will also include modern features such as “layered transaction fees” and “faster chain synchronization.” Charles Hoskinson, the founder of Cardano, believes that Leios can make the network faster than Solana without sacrificing decentralization. In a social media post, he stated, “The Rust node does not offer users new differentiating features. Leios makes us faster than Solana without losing decentralization.”
However, Hoskinson faced criticism from some users despite these statements. Some individuals noted that they have not seen signs of development since Leios was announced in 2022. User Rizza wrote:
As far as I know, no one is building Leios; this should have been a priority and happened years ago. An open-source paper means nothing unless it is implemented.
In response to these claims, Hoskinson stated that development efforts would accelerate in Q4 2024, clarifying, “You are wrong. There is a prototype team actively working on Leios, managed by IOG. Efforts will significantly increase after completing the Peras CIP in the upcoming quarter.” Despite the complexity of implementing Leios, Hoskinson and his team assert that many companies will be involved in making the update a reality. If Cardano can surpass Solana’s speed with Leios, it may positively impact the value of ADA.
