This means that there can be a total of 21,600 slot leaders per epoch. In each slot, zero or more block-producing nodes may be nominated to be the slot leader, with an average of one node being nominated every 20 seconds. Currently, an epoch in Cardano consists of 432,000 slots, which is equivalent to five days. An epoch consists of a fixed number of slots, with each slot lasting one second. Fees are not paid directly to block producers but are instead pooled and distributed to all pools that created blocks during an epoch.Ĭardano organizes its blockchain into epochs and slots. The parameter a reflects the dependence of the transaction cost on the size of the transaction, while the value of b is a payable fee that is intended to prevent DDoS attacks. Transaction fees on Cardano are determined based on a formula that includes two protocol parameters: a and b. Ouroboros is the energy efficient Proof of Stake (PoS) consensus algorithm used by Cardano. The native coin ADA powers the Cardano blockchain and serves as a means of payment for transaction fees and as a medium of exchange. It was launched in September 2017 by IOHK (Input Output Hong Kong), a technology company founded by Charles Hoskinson and Jeremy Wood.Ĭardano seeks to offer a more balanced and sustainable ecosystem for complex deal settlement, DApp development, and interoperability with other systems seeking integration. Cardano is a third-generation blockchain platform named after Ada Lovelace, the 19th-century mathematician recognized as the first computer programmer.

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