CARDANO SL
Cardano SL is the cryptocurrency component of Cardano, a blockchain platform developed by IOHK. When they reached out to us, the company's aim was to create a peer-reviewed blockchain system that offered users transparent access to financial services. Serokell assisted IOHK in implementing a cutting-edge Proof of Stake (PoS) algorithm to establish a dependable financial platform for customers. We developed the layer utilizing a PoS protocol, allowing participants to use their cryptocurrency instead of relying on computational mining. Unlike previous attempts at PoS algorithm design, Serokell's work was rooted in Ouroboros, an algorithm that underwent formal verification and was devised by a team of researchers. By collaborating with researchers from IOHK, the University of Athens, the University of Connecticut, the University of Edinburgh, Aarhus University, and the Tokyo Institute of Technology, Serokell successfully transformed it into a functional software system. Our partnership generated a Haskell project at the crossroads of blockchain technology, mechanism design, and cryptography. Key features we implemented include: a blockchain based on a novel PoS consensus algorithm; a ledger that ensured secure transactions for user funds; built-in scripting language support; a CLI client for the Cardano network; a web backend for Daedalus, Cardano's wallet; a block explorer for the Cardano network (developed in collaboration with IOHK); and a web application to distribute ADA tokens sold during the ICO. Since its launch in 2018, Cardano has emerged as one of the most secure and scalable cryptocurrency platforms available, ranking #7 in the list of top 100 cryptocurrencies by market capitalization at that time.