The Cardano community of enthusiasts and investors is bright-eyed once again following the recent announcement of a new paper titled “Mithril 2”. Cryptocurrency, which has always flirted with the innovative, now brings an approach that can redefine the contours of privacy and scalability in the blockchain universe.
This article is not a mere technical editorial, but a milestone, at least that is what the animation of the group behind the keyboard suggests. The pages of “Mithril 2” are full of cryptographic news, a kind of enigma for the uninitiated, but a feast of possibilities for those who breathe blockchain.
Romain Pellerin, who is responsible for being Technical Director at Input Output Global (IOG), the company behind Cardano, broke down the content for everyone. He detailed what these Approximate Lower Bound Arguments, or ALBAs, are, which look like they came straight out of a science fiction book.
In short, but not simplistic, ALBAs are a way for you to say “Look, I have an entire stamp collection” without having to show off each one. This, in data terms, means you can prove you have something great and true on your hands, without having to reveal what it is. And, according to Pellerin, this is not just a matter of privacy, but a tool that can simplify processes and make everything lighter and faster.
There is a technique called Telescope also mentioned in the article, which is a kind of spyglass for observing the stars in the data constellation. It allows the proof of this data to be constructed in a recursive and efficient way. In other words, it’s as if technology zoomed in and focused only on what’s necessary, discarding the excess.
Charles Hoskinson himself, the mind that dreamed up Cardano, used X (the good old Twitter from before) to share his euphoria.
Mithril 2 has been released. I am very proud of this article. It’s a great job.
Mithril 2 is out. I’m very proud of this paper. It’s damn fine work https://t.co/wEVB0XspkB pic.twitter.com/AHULGuCMWI
— Charles Hoskinson (@IOHK_Charles) October 31, 2023
At the time of publication, the price of ADA was quoted at US$0.309036, up 8% in the last 24 hours.
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.