Cardano ‘Shelley’ Update Weeks Away, As ADA Price Spikes 15%
Cardano founder Charles Hoskinson has finally put a date to the launch of Shelley – the next major milestone in Cardano’s roadmap.
According to Hoskinson, the initial phases of Shelley’s arrival will begin as early as June 9 and will be live by June 30 if everything goes ahead as planned.
Charles Hoskinson Announces Cardano Shelley Update
Speaking on a Cardano Crowdcast podcast, Hoskinson outlined the plan to launch Shelley over the course of the coming month. Hoskinson said:
“Guys wanna know when Shelley is? Let’s tell ya… June 9 – this is when it opens up to everybody. The next date we have for you is June 16, that’s when we start putting things together end-to-end.”
Hoskinson added that the update could be “shipped” by as early as June 30.
“If everything works without a hitch, June 30 we’re shipping Shelley.”
Hoskinson referenced the long, difficult task of getting Shelley ready for the public. The Cardano founder has previously come under criticism for failing to add substance to Cardano’s whitepaper potential in the form of hard launch dates. Hoskinson added:
“I’m really proud of everybody. It’s been a long time coming and it’s been a difficult year because we’ve had to change the tires while the car is running. What we’re creating is basically the world’s next operating system.”
Staking ADA on Shelley
Shelley brings with it the arrival of staking on Cardano, turning it into a proof-of-stake blockchain. With proof-of-stake, coin holders help secure the network by staking their coins and are rewarded with regular payouts.
Later on May 28, Hoskinson posted the following image of the Shelley roadmap to his Twitter page. It goes into more detail on the rollout of the update, revealing August 18 as the date of the first staking rewards.
According to the Cardano roadmap, the successful implementation of Shelley will make Cardano more “useful and rewarding” for users.
“The Shelley era represents the natural maturation of the network, making it more useful, rewarding, and valuable for users new and old.”
By the time of writing, the Cardano (ADA) coin price had gained 15.1% for the day – with the majority of the growth coming in the hours following Hoskinson’s announcement.
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