Cardano’s Extended UTXO accounting model – built to support multi-assets and smart contracts (part 2)
In the second part of our blog on Cardano’s EUTXO accounting model, we take a more technical look at transaction components, the UTXO set, and delve deeper into the rationale for Cardano’s EUTXO model
12 March 2021 5 mins read
Yesterday we offered an overview of the Extended UTXO model employed by Cardano, explaining how it differs from the approaches taken by Bitcoin and Ethereum. Now let’s dive a little deeper into inputs and outputs, the component parts of a transaction.
We need to talk about transactions: Outputs and Inputs
The term transaction usually evokes financial echoes. While such meaning…
Cardano’s Extended UTXO accounting model – built to support multi-assets and smart contracts
Cardano uses an innovative Extended UTXO accounting model to support multi-assets and smart contracts. In the first of a two-part blog, we look at the different blockchain accounting systems and why EUTXO matters
11 March 2021 5 mins read
Blockchain networks are complex data structures. Transactions continuously crisscross the chain, creating digital footprints that require careful tracking and management to maintain the integrity and reliability of the underlying ledger.
Two major accounting ledgers exist in the blockchain space: UTXO-based blockchains (Bitcoin, for instance), and Account/Balance chains…
Not long till 'd' (=0) day
We are fast approaching full decentralization of block production on Cardano. It's a good time to reflect on the network’s evolution
4 March 2021 8 mins read
At the end of March, we’ll reach another milestone for Cardano when we’ll see d, the parameter that governs what percentage of transactions are processed by the genesis nodes, get to zero. At this point, responsibility for block generation will be fully decentralized. In other words, Cardano’s network of 1,800+ community pools will be solely responsible for producing blocks.
D=0 day will be a landmark moment in Cardano's continuing journey. When we deployed the Shelley update back in July 2020, d was set to an initial 1.0, meaning that every block was produced by IOHK’s network of federated nodes. Of course, this was the antithesis of…
Bringing Glow to Cardano
We just spun up a devnet to support Glow, the very latest language Cardano will support. We talked to its creator about building a DSL for DApp development.
26 February 2021 7 mins read
At the end of 2020, we announced our devnets plan to support the longer-term strategic goal of opening up Cardano to multiple development languages – as outlined in the ‘‘Island, Ocean, Pond’ video. This week, building on the Ethereum Virtual Machine, we’re rolling out a new development environment to support the Glow language.
François-René Rideau of Mutual Knowledge Systems is…
Babel fees - denominating transaction costs in native tokens
Introducing a novel mechanism that allows the payment of transaction fees in user-defined tokens on Cardano
25 February 2021 8 mins read
In Douglas Adams' classic The Hitchhiker's Guide to the Galaxy, a Babel fish is a creature that allows you to hear any language translated into your own. This fantasy of universal translation ensures meaningful interaction despite the myriad different languages in the galaxy.
In the cryptocurrency space, smart contract platforms enable the development of a myriad custom tokens…