• Cardano’s Mithril Update is set to release this summer.
• The upgrade aims to make the Proof-of-Stake chain more efficient and streamlined, challenging its competitors, Ethereum, Solana, and Polygon.
• Mithril makes network participation more accessible by significantly reducing the time and resources required for running a full node.
What Is Mithril?
Mithril is a stake-based signature scheme and protocol designed to enhance the Cardano network by speeding up and optimizing data synchronization between applications. Introduced in August 2022, Mithril aims to play a crucial role in fueling Cardano’s growth and making network participation more accessible.
How Does Mithril Work?
Mithril’s mainnet release is just around the corner. It retrieves a certified snapshot of the current blockchain state, drastically reducing sync time while maintaining security. By bootstrapping full Cardano nodes, Mithril opens up avenues for streamlined and efficient network participation as well as an improved DeFi ecosystem.
Limitations of Running a Full Node on Cardano
Currently, users have limited options for participating in the Cardano network: running a full node, which requires downloading and validating the entire blockchain, or using a lightweight client, both of which can be time-consuming and resource intensive. As Cardano scales, the rising size of its blockchain makes running a full node unfeasible for most people due to its large size that exceeds 120 GB at press time and could reach 1,000 GB in the future.
How Does Mithril Impact Cardano?
Mithril changes the game by bootstrapping a full Cardano node; it makes network participation more accessible by significantly reducing the time and resources required for running a full node. With Mithril, developers can deploy light clients and applications while maintaining security without downloading or validating every block on their own computer or server.
The highly-anticipated Mithrill Update is designed to revolutionize how we interact with blockchains like Cardano through faster blockchain synchronization times while maintaining security standards that are essential for any successful decentralized platform.