Cryptocurrency

After 5 years of development, the Mainnet with ADA-Staking live

After five years of development Cardanos next Upgrade is finally here.

The network has now implemented its latest Hardfork Shelley. Thus, the network will be upgraded compared to its previous Version, Byron,. Shelley’s Staking Pools and delegations.

In Shelley it is to keep large amounts of the local currency ADA. The advantage of this is that it gives you a greater Chance to receive even more ADA as a reward for the validation of the network. All of this is supported by the Ouroboros-the Protocol that determines who receives the next Block in the Cardano-Blockchain.

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You can also have a so-called Staking Pool to operate, you stakest ADA of other users in whose name or your Coins to delegate, to someone else you can shake a stake at. The IOHK said in a press release that it expects to reach about 1,000 Staking Pools. This is based on the number of the Staking Pools that were opened during his test network. After the Start of 444 Staking Pools in Cardano are in operation.

The first Block of Shelley was on the 27. April on a Testnet Version of the new Chain to be validated. A test network is like a beta version of a Blockchain. Normally, it is not in Testnet block chains for real money. But IOHK for Shelley a, with incentives provided Testnet, which means that also here the real values involved.

Now the Mainnet is finally here. Aparna Jue, product Director of the IOHK, said in a statement:

It is a monumental achievement, but that does not mean that we will stay and we look forward to the delivery of Voltaire and Goguen phases of the Cardano Roadmap, which this year has robust Governance arrangements, and Smart Contract functionality will see.

Charles Hoskinson, CEO of the IOHK, added:

This time next year, we could see hundreds of Assets and decentralized applications on Cardano run.

Now on to Cardano (ADA) boarding

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About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.

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