Cardano Announces Shelley Roll-out, ADA Makes +17%

IOHK, the leading blockchain company developing Cardano has announced that it will be starting the roll-out of the Cardano Shelley-era functionality between 30th June and 7th July.

Shelley, one of five eras on the Cardano product development roadmap, will deliver decentralized block production through a combination of mechanisms including delegation of stake, where any individual who holds ADA can delegate it to a stakepool to earn rewards, and thus be financially incentivized to keep the network running accurately. It will also include stakepool operation where ADA holders with the required knowledge can operate a stakepool and receive a monetary award.

The start of the roll-out of Shelley follows a successful collaborative process via testnets and ongoing feedback and discussion with the Cardano community. A Shelley testnet was launched in June 2019 with a Shelley Incentivized Testnet (ITN) launched in December 2019. The ITN is currently approaching it’s predicted optimum number of stakepools, with close to 1,000 active pools and 12.9 billion ADA being staked, representing over 40% of the circulating supply.

Once the system’s mainnet is launched, later this summer, more and more nodes will shift towards being run by the Cardano community. When most nodes are run by network participants, Cardano will become more decentralized than the Bitcoin blockchain, allowing for greater security. On the background of the news, ADA has gained more than 17% on a 24-hour adjusted timeframe. With a market cap of $1.69 bln, ADA is now the eleventh-largest crypto, according to CoinMarketCap’s data.

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