Cardano works hard in the bear market to improve its blockchain. According to recent news, users will most likely be able to store their Cardano on ledgers devices. That is not all; the most anticipated Shelley update gets closer of launching.
The blockchain Cardano builds during the bear market
Charles Hoskinson is the front figure on Cardano, and the blockchain has a large community. It holds a lot of promise which has not materialised yet. The scientific project has had some internal and political problems, but it seems as though they started to move forward.
On the agenda is the Shelley update, which might soon get launched. Around two months ago, news arrived that Cardano moved closer to their Shelley update. A story covered by Toshi Times. The team finalised the delegations mechanics behind the update. Shelley promises to give Cardano increased decentralisation, 1,000 staking pools, and full autonomy. If realised, all of this would make Cardano’s system the most decentralised on the market. Hoskinson recently stated that Cardano would become around 100 to 50 more times decentralised than Ethereum, Bitcoin, and EOS.
Cardano will use a sort of Proof-of-stake (PoS) but created an improved version. The issue with today’s PoS blockchains is that nodes can go offline and not participate in reaching consensus. It is a fundamental issue as all parties must be involved to validate transactions. However, Cardano’s Shelley update aims to solve the problem. In short, the update means that offline participants can safely rejoin the Blockchain and re-sync their copy. If it succeeds, it will be the most secure blockchain ever engineered. For companies, it means that they can deploy solutions via the safe PoS blockchain. The update gets closer to launch, and the release schedule for Shelley is out.
Cardano soon available on Ledger
Besides from moving closer to releasing the update, news came out that Ledger will add support for Cardano’s cryptocurrency, ADA. Ledger will add support through Emurgo’s Yoroi wallet, which launched on Android about a month ago. The wallet allows users to send ADA safely over the phones. The wallet seems successful since it received five
While Cardano makes progress, it is one of the few blockchains based on science. Charles Hoskinson who is the founder of the blockchain explained the importance of science behind blockchain and cryptography. He argues that it is essential that blockchain technology should have the same level of scientific scrutiny that other academic disciplines. He said that the stakes are high when you are dealing with trillions of dollars and creating a new financial system.
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