Charles Hoskinson, the founder of Cardano 
$0.245587, shared his views on potential future updates for the network following the introduction of the Ouroboros Peras protocol. He expressed that this update is a long-awaited step that will “significantly improve” the Cardano network.
Insights on the Update
In a post on the X platform, Hoskinson indicated that Cardano developers could work on an update related to validation regions after the Peras update. This statement followed a comment from Cardano blockchain developer Andrew Westberg, where Hoskinson supported the notion that this update should be a development priority.
Westberg noted that this update is a long-awaited improvement for the Cardano Network and will “significantly improve” the network.
Introduction of the Ouroboros Peras Protocol
With the addition of the Ouroboros Peras protocol to the Cardano network, it was noted that this update would bring some changes to the validation regions. Input Output announced that Peras is an extension of the Ouroboros Praos protocol and will utilize stake-based voting to minimize the possibility of transaction retraction.
The core concept of Peras involves using stake-based voting to increase the weight of blocks that the majority of stake pool operators agree upon.
Hoskinson stated that the Peras protocol is “one of the best-prototyped protocols,” adding that this and the proposed Leios updates are part of plans to assist in the scaling of the Cardano network.
Additionally, developer Westberg remarked that the Cardano Improvement Proposal (CIP) offers a “neat solution” to many long-standing issues. He added that this proposal would introduce interoperability and ‘Babel Fees’ to the network.
The Cardano network is believed to help resolve long-standing network issues as it transitions into the Voltaire era. Hoskinson pointed out that criticisms towards the network misunderstand its developmental journey and the necessary changes for growth.
This update coincided with ADA‘s price dropping over 2% in the last 24 hours, while trading volume increased by 48% to reach $376.8 million.
The Cardano community hopes that such updates will have positive effects on the overall performance of the network.
