Cascade is an information reconciliation protocol proposed in the context of
secret key agreement in quantum cryptography. This protocol allows removing
discrepancies in two partially correlated sequences that belong to distant
parties, connected through a public noiseless channel. It is highly
interactive, thus requiring a large number of channel communications between
the parties to proceed and, although its efficiency is not optimal, it has
become the de-facto standard for practical implementations of information
reconciliation in quantum key distribution. The aim of this work is to analyze
the performance of Cascade, to discuss its strengths, weaknesses and
optimization possibilities, comparing with some of the modified versions that
have been proposed in the literature. When looking at all design trade-offs, a
new view emerges that allows to put forward a number of guidelines and propose
near optimal parameters for the practical implementation of Cascade improving
performance significantly in comparison with all previous proposals.Comment: 30 pages, 13 figures, 3 table