- After months and years of hard work on Cardano, the project is getting ready to enter its new phase of the highly anticipated Shelley era.
- With the new move, speculation throughout the community has been skyhigh when it comes to ADA and how it will react to the update.
After months and years of hard work on the Cardano network, the project is getting ready to enter its new phase of the highly anticipated Shelley era. With the new move in place, speculation throughout the community has been skyhigh when it comes to the project ADA currency and how it will react to the update.
The Shelley era is well underway despite all the setbacks the project has experienced over the past six months with everything going on in the world as well as other underlying issues. At the end of last month, the founder of Cardano, Charles Hoskinson released a detailed plan for the upcoming phase where he stated that the upgrade to go live as early as the 18th of August saying that he was very confident and there wouldn’t be any delays in the project. After he made the announcement, interest in the cryptocurrency spiked as one blockchain analytics company, IntoTheBlock highlighted that the total number of addresses that hold the crypto surged to an all-time high of 385,000.
Of course, the spike of Cardano is unprecedented but is likely coming from users who wish to earn currency rewards through staking as the network moves to a truly decentralised proof of stake system.
Raising the Stakes#Cardano, or the so-called "Ethereum Killer" is looking sharp as the Shelley protocol transition is fast approaching.— intotheblock (@intotheblock) June 7, 2020
The total number of addresses holding $ADA reached its ATH on June 3, with 385.08 thousand addresses.#crypto #blockchain #intotheblock pic.twitter.com/IRjkE21HAu
The marketing and communications director at IOHK, Tim Harrison has highlighted that the project has been operating the friends and family testnet.
“On [June 9], we’re entering a new phase for Cardano. The Shelley testnet will open up to any operator that wants to set up a Cardano stake pool, ready for staking, and delegation on mainnet later this summer […] There will be bugs and a few bumps in the road still. But our pioneer community has been doing an excellent job of bashing and smoothing things out with well over 60 pools now up and running and they’ll be around to help.”