Ouroboros (blockchain)

Ouroboros (blockchain)

Ouroboros is a proof-of-stake blockchain protocol.

Ouroboros is a proof-of-stake and proof-of-security blockchain protocol developed by Aggelos Kiayias, Alexander Russel, Bernardo David, and Roman Oliynykov. The protocol begins in a "static stake" in which the leaders are assigned proportional blockchain slots based on their initial stake. once the initial stake of the leaders is set, each leader is assigned an effective stake which proportionally sets the protocols distribution during its execution.

The Ourobus blockchain protocol is proven to be secure against delayed adaptive corruptions. The protocol protects against delayed adaptive corruptions because block leaders are selected by weighting public keys and through using a sender anonymous broadcast channel provided by diffuse functionality that eliminates the delay between block user selections that are susceptible to delayed adaptive corruptions.

In March 2020 Cardano released published a research paper on their Ouroboros Hydra proof-of-stake (POS) algorithm. The Ouroborus Hydra algorithm can complete about 1000 transactions per second and each proof-of-stake pool hosts a head. The Cardano team made the following statement about the performance of Ouroborus Hydra:

If we have 1000 TPS and 1000 heads there could be a maximum theoretical performance rate of 1 million TPS. This would also allow fast finality like in traditional BFT protocols.

Timeline

People

Name
Role
LinkedIn

Aggelos Kiayias

Developer

Alexander Russel

Developer

Bernardo David

Developer

Roman Oliynykov

Developer

Further reading

Title
Author
Link
Type
Date

Introduction To Ouroboros - Unraveling the Ouroboros - Medium

LLFOURN

Web

Ouroboros: A Provably Secure Proof-of-Stake Blockchain Protocol

Aggelos Kiayias, Alexander Russell, Bernardo David, Roman Oliynykov

Academic paper

Documentaries, videos and podcasts

Title
Date
Link

IOHK | Dr. Peter Gaži, presenting Ouroboros at MIT.

March 13, 2018

IOHK | Ouroboros Genesis: A Provably Secure Proof-of-Stake Blockchain Protocol

April 26, 2018

Op Ed: A Cryptographic Design Perspective of Blockchains: From Bitcoin to Ouroboros

22 August 2017

Companies

Company
CEO
Location
Products/Services

References

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