The Cardano (ADA) project will soon release its highly anticipated Shelley update, which will bring such upgrades as a Proof-of-Stake consensus mechanism. The project is expected to release its testnet in June which will give users a sense of what the major upgrade will be like.
#Cardano Shelley testnet coming out in June, confirmed by Charles. Are you ready for staking #ADA? #crypto #cryptocurrency #BTC #altcoins #bitco9
— Weiss Ratings (@WeissRatings) May 22, 2019
Emurgo, one of the three legal entities behind the project, responded to the tweet, saying that the testnet would start “with a small, closed pool of trusted stake pool operators and an Minimum Viable Product, rolling out more functionality and more operators over the next 3-4 months.”
Yes, Shelley testnet in June starting with a small, closed pool of trusted stake pool operators and an Minimum Viable Product, rolling out more functionality and more operators over the next 3-4 months. 🙌 #Cardano #ADA #testnet
— EMURGO (@emurgo_io) May 22, 2019
Officials, including Charles Hoskinson, have previously said that they are targeting the end of Q1 as a release date for the mainnet version of Shelley.
What Does it Mean for Investors?
The Cardano project has stated on their roadmap page that they will offer a new roadmap on the coming weeks, but what we do know about Shelley is that it will bring several important features, including paper wallets, quantum resistance, human-friendly addresses, multiSig transactions, and much more.
For investors, this means a project that is laying a strong foundation for a future in which cryptocurrencies become more of a norm than a niche interest. Improvements to interoperability and security are also planned, and as Cardano is well-funded, investors need not worry about the project facing roadblocks from a lack of funds. The team has also been working with countries to help boost adoption.
Cardano has been building its platform patiently, and many see it as a being a project that could bring several improvements to the crypto space once the groundwork has been laid. At the same, they have been communicative about development – lead Charles Hoskinson regularly hosts AMAs and offers updates on the project.
