2020 has proven to be the year for competitiveness in the cryptocurrency world. From the Bitcoin halving to the launch of many new cryptocurrency platforms, it is essential to pay attention to the different announcements that founders and CEOs of various companies are making.
One of these projects is the Cardano (ADA), Shelley. The launch of the mainnet is programmed for July 7th, but since June 9th traders and investors got the chance to try the platform. This testnet allows them to get familiar with the platform and trade using the Cardano cryptocurrency.
What is Cardano (ADA)?
Cardano is a blockchain-based platform founded by the IOHK company (Input Output Hong Kong), using the Proof-of-Stake algorithm to develop a cryptocurrency that would raise over the rest. Therefore, this cryptocurrency was constructed through the application of science, creating it from the base.
Through its many different protocol features, it is noticeable the importance it gives to the security and privacy of the users, and the use of soft forks to reach the various upgrades. Cardano is routed to keep evolving and improving through the feedback of its users.
What is Shelley?
Shelley is the mainnet project developed to support Cardano cryptocurrency (ADA). Together with Byron, which was the first step for these advances, the creators of Cardano expect to change centralization to a public domain. It will allow different people to use the Cardano (ADA) cryptocurrency platform for their transactions.
Currently, the IOHK company launched a Testnet for the Shelley project. It will help new traders to familiarise themselves with the platform and cryptocurrency exchange in general. At the same time, it allows the experienced traders and investors to experiment with the platform and try its many features, so they will be able to compare with other platforms on the market.
Shelley will be launched on July 7th, giving the potential users a full month to understand and try the platform. In the testnet, you will be able to get real monetary rewards and trade it before the mainnet is out. With it, the developers of Cardano want to make sure that everything works correctly, and that users from all around the world can make their transactions without errors or technical problems.
Another significant change that will occur with the mainnet is that it will go from a soft fork to a hard fork in the updates system. So far, the response of the audience for the incentivized testnet has been notorious, reaching over 1,200 nodes administrators.
Using the tag “Friends and Family”, IOHK proposes that those running through the private group of traders will eventually become the guides to the new traders once the mainnet becomes public.
Cardano (ADA) Shelley project has excellent potential to become one of the most crucial cryptocurrency platforms in the following months. The features it provides will allow traders and investors to make their transactions privately and safely. Through the testnet, the developers will also be able to take notes and feedback from the users. That way, Shelley will open to the public with users that know how to go through the platform, helping the new traders around.