Cardano and Proof of Stake (PoS)
Cardano is a new block-chain (launched on September 29th, 2017) that runs the Ada cryptocurrency. It is designed in Haskell, and makes use of a provably secure wealth-based proof-of-stake algorithm called Ouroboros for transaction authentication in contrast with the proof-of-work algorithms used by Bitcoin and similar cryptocurrencies. The creators of Cardano have also created a wallet system for the currency called Daedalus. I intend to study the block-chain implementation of the Cardano Settlement Layer, which claims to be "Bitcoin reimagined with a freedom to fix Bitcoin’s design flaws", including Daedalus and in particular the Ouroboros algorithm it uses, and explore its efficacy in the context of the typical criticisms and weaknesses of proof-of-stake algorithms.