This May, Cardano, a smart contract platform that competes with Ethereum, will begin transiting to Shelly phase following the successful reboot of Byron.
Byron was the first phase and the foundation of the five-stages whose culmination will result in a robust, decentralized, and resilient Proof-of-Stake consensus network built from scratch.
As Cardano is described as a peer-reviewed and third generation blockchain that will eventually allow for dapp launching and verifiable smart contracts, Byron set the foundation. After finalization, the result was the release of an upgraded Daedalus wallet. It is a desktop wallet released by IOHK, one of the three main wings helping in Cardano development.
Another light wallet, Yoroi, was also released. This version is supported by Emurgo and is designed for quick transactions and day-to-day use of the wallet.
Largest update yet for the Yoroi Byron extension (v1.10) has been released for Chrome/Brave/Firefox!
We now support multiple wallets!
— Yoroi Wallet (@YoroiWallet) May 1, 2020
Shelly Phase is a Huge Milestone for Cardano[ADA]
Shelly is a milestone for Cardano. Postponed on several occasion thanks in part to Charles Hoskinson insistence on quality and peer-review, the Shelly mainnet ensures that the network is perfectly decentralized.
It is the decentralization aspect and participation from the community that underpins a successful blockchain. In both perspectives, Cardano has been successful has its staking incentivization program was marked by high participation.
Part of the statement read:
“Following the successful Byron reboot of Cardano, we are beginning our phased transition to the Shelley mainnet. This means moving from a static, federated system to a dynamic, decentralized Cardano blockchain. The process begins with a series of Haskell Shelley TestNet, culminating in the Shelley upgrade hybrid phase.”
The incentivized TestNet, Cardano reveals, gave staking pool operators “experience in building their critical infrastructure, while allowing IOHK’s engineers to test the new incentive mechanisms with real ADA, delegated by actual ADA holders.”
Transition will be in 3-Phases
Beginning this month, Cardano will begin testing, shifting its nodes from a centralized and federated system to a decentralized network.
Additionally, this TestNet is about “ensuring that the Shelley mainnet is calibrated to be a best-in-class experience from day one.” However, a key distinction is that ordinary ADA holders will not be involved and the program will not be incentivized as testing periods will be tight.
Besides, ADA holders will try out the new Daedalus wallet, explorer the public TestNet, provide feedback but without using real ADA coins.
The transition will be in three phases: The Pioneers and the ‘Friends and Family’ phase wherein “IOHK will first spin up and run a Shelley-only test network internally” and invite 20 staking pool operators, The Public Phase where a small group of around 20 operators are expected to participate, and the balance check phase where ITN rewards and mainnet balances will be consolidated.
Ethereum, the leading smart contracting development by activity, is also transiting. Adopting a Proof-of-Stake consensus algorithm, the ETH 2.0 “Topaz” TestNet has attracted over 22,000 validators and its mainnet is expected in the next few months.