Cardano Updates

Cardano Node 1.23.0

Now this is properly exciting. The new Cardano Node has been released which sets the stage for the transition to Goguen. From the release notes:

This release includes a substantial amount of internal changes to support the upcoming Allegra and Mary hard forks and the new features they bring. This is not the final release before the Allegra hard fork, but it does include the bulk of the functionality for both Allegra and Mary hard forks.

The Allegra hard fork adds some features needed to support the Catalyst treasury scheme. It extends the existing multi-sig script language with predicates for time, via the slot number. It allows, for example, to make an address not spendable until a certain point in time.

The Mary hard fork adds multi-asset support. This is comparable to ERC20 and ERC721 tokens, but supported natively in the UTxO ledger. This is part of the Goguen feature set. It is a very significant feature and will have implications for all Cardano wallet implementations, including exchanges.

Another notable change in this release is an adjustment to the pool ranking that will benefit small pools that have not yet made many blocks. We have adjusted the initial Bayesian prior so that instead of assuming new pools will perform at some less-than-perfect average level, we assume they will perform more-or-less perfectly. This prior is still updated based on the actual performance history, so pools that perform poorly will still drop in ranking. This change will especially benefit small pools that have produce few blocks so far, because they have very little performance history and so their score will be more influenced by the initial prior.

ADAvault are soak testing this release on the passive cluster, all being well Ops will switch across at the end of the Epoch.