The blockchain Cardano is on many developers agenda. They have finally launched version 1.5 on the mainnet. It is a major milestone before moving into the most anticipated Shelley development phase.
The Blockchain Launches Cardano 1.5
About two months ago, Toshi Times, covered a story about Cardano and asked the question: “Will 2019 be the year for Cardano? We are about to find out as the story develops. Charles Hoskinson is the front man, and Cardano held a lot of promise for many investors for a long time. However, they have not delivered until now. The project moves slowly but steadily towards the most anticipated Shelley update which might make it the safest decentralised blockchain yet created.
Nevertheless, the blockchain moves in the right direction and build momentum. After announcing the release of the testnet a few months back, they now launched version 1.5 on the mainnet. It is important preparation for moving to the Shelley development Phase. The update brought a new consensus protocol, Ouroboros BFT. In plain English, it means that it enables the blockchain to move from its old system to the new, Ourobus Genesis. Ouroboros Genisis, the protocol for the Shelley era is a major upgrade since it will make the blockchain the first that uses proof-of-stake that matches the security of the costly Proof-of-work. Bitcoin is an example that uses Proof-of-work.
Will Cardano Become One of the Safest Blockchains?
While the upgrade is one step on the journey to move to the Shelley protocol, it seems as though the team is united. The upgrade is a hard fork, but since the developers agreed on the upgrade, the transition will happen smoothly. The upgrade is not only the bridge between the old and the new system, but it also brings other improvements. These include performance improvements, features for detecting insufficient disk space.
Meanwhile, Cardano makes updates on their own; other good news came out regarding the blockchain and its token, ADA. Ledger released news that they will allow clients to store ADA on its hardware wallets.
However, Cardano is not the only blockchain that looks to improve the functionality. Ethereum is one of the most famous blockchains and a competitor to Cardano. A few weeks ago, Ethereum finally completed an upgrade which brought some improvements to its operating system. However, it is not an easy task to move over from a Proof-of-Work blockchain to a Proof-of-Stake, so we are yet to see if they succeed. The new Samsung phone will even have storage options for Ethereum on its new device, Samsung S10.
The blockchains compete to become the first one to bring mass adoption to the world of cryptocurrencies and blockchains. We are literally watching as history is being created and are yet to see which blockchain that will rise to the occasion. Cardano has built momentum, and investors are watching to see if it is sustained.
Image Credits: “Pexels”
Dennis Sahlström has been trading and investing since 2012 and has for the last two years been consistently profitable. He has been in the crypto- and blockchain space since the middle of 2017 and realized its potential for our world, not least how it is transforming the society we live in. He has now created an education platform, together with the wealth coach Marcus the Maria. They teach regular people how to invest and trade in the cryptocurrency market with proven strategies. If you want to learn more and feel like its time to get into this new asset class, download our free book and register to the next live training to get your future in cryptocurrencies started.