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Cardano’s Founder Reveals Shelley’s Formal Specifications Before Its Launch

· 17 Apr 2019 in Breaking, Crypto News
Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

The Cardano (ADA) ecosystem continues growing and expanding. This time, Charles Hoskinson, the founder of the platform, shared an article in which IOHK reveals formal specifications and incentives from Shelley, the upcoming Cardano’s network upgrade.

Shelley’s Specifications Revealed by IOHK

The team behind IOHK decided to provide information about key specifications related to Shelley and to be sure that the community has a smooth transition towards the new platform. According to the blog post, the specifications are related to the design for the delegation and incentive mechanisms.

Moreover, they also include ledger rules and how to do non-integral calculations when there are different programming languages involved. Although this information was released by IOHK, this is not the final version of the specifications and they could be enhanced in the future.

About the improvements, they commented:

“To provide a smooth transition from the Byron era to the Shelley era, the Shelley code will have to be compatible with the Byron rules. To enable this, we have created specifications for the Byron era as well.”

The specifications for the Byron era include the Cardano Ledger for the Byron release and the Blockchain Layer. Moreover, the process to implement these specifications in production code is underway and the specifications will be improving with feedback from the mathematics. Additionally, researchers and the community will also be giving information about it.

The announcement was made just before the IOHK summit that starts today and will last until tomorrow in Miami. Hoskinson could also be revealing new information about Cardano’s roadmap during the event. Enthusiasts and people are waiting to have more information about the upcoming network updates.

In addition to it, the Shelley release was planned for last year. However, the Cardano 1.5 update was released on March 20, 2019. This helped the network to reach the top 10 after a long period of time outside it.

Currently, each ADA coin can be purchased for $0.0832 and it has a market capitalization of $2.16 billion. This makes of Cardano the 10th largest digital asset in the market.

Back in March, Cardano and Yoroi Wallet were integrated with the Ledger Nano S, one of the most popular and secure hardware wallets in the market. In this way, Cardano holders are able to hold their digital assets in a secure way without having to be worried about their security.

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