May 28, 2020 ⋅ 2 min read
Earlier today, Charles Hoskinson revealed Cardano’s next mainnet iteration, the long-awaited Shelley, could launch as soon as Jul. 29. Shelley will introduce the project’s proposed Proof-of-Stake (PoS) consensus layer, enabling users to contribute to the transaction validation process either directly or via delegation, in exchange for staking rewards. The upgrade also marks a notable step forward on the path towards decentralization as the current mainnet operated as a federated network managed primarily by the Cardano Foundation.
The full rollout of Shelley could take a month to reach completion. Cardano plans to release a Shelley mainnet candidate chain around Jun. 23 before releasing the code to mainnet on the Jun. 30 target date. The official hard fork that will activate Shelley’s changes could arrive on Jul. 29, which would give network participants enough time to upgrade their nodes and wallets. According to the roadmap, Cardano will begin paying out staking rewards around Aug. 18.
Source: Twitter
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