• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
cardano hard fork
Nexo

Cardano Completes Hard Fork Paving The Way For Shelley Launch

Martin Young by Martin Young
2 years ago
in Altcoins
0
Advertisement

Crypto platform Cardano has successfully completed a mainnet hard fork which brings the system closer to the long awaited Shelley release. The upgrade also resulted in a minor price boost for ADA.


Cardano Forked to OBFT

IOHK has completed an important update which is part of the journey to launching Shelley era functionality on the Cardano mainnet.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

The mainnet has now been switched from the original consensus protocol Ouroboros Classic to an updated version, Ouroboros BFT (OBFT) according to the announcement.

UPDATE: #Cardano OBFT hard fork successfully completed! 🚀 👏 đŸ„ł

Cardano recently underwent a mainnet hard fork (=software protocol update) on 20-02-2020, during epoch 176, to pave the way for the "#Shelley" mainnet release. pic.twitter.com/Uemla5AKoG

— Cardano Community (@Cardano) February 21, 2020

The announcement added that the update provides a simpler migration pathway from Ouroboros Classic to Ouroboros Praos which will power Shelley. Ouroboros is a secure proof-of-stake consensus protocol, but the original version made several compromises to decentralization.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

OBFT is a class of simple Byzantine fault tolerance consensus algorithms. A Byzantine fault is a condition of a distributed computer system where components may fail and there is imperfect information on whether a component has failed.

A system with BFT consensus is able to continue operating even if some of the nodes fail or act maliciously. The Binance Academy goes into a deeper explanation of how it works.

Users holding ADA were strongly urged to upgrade to Cardano 1.6.0 to experience no issues or interruption of service. It added that no new tokens were generated during this fork so ignore any scams that suggest otherwise.

The platform’s Shelley era, which has had a number of setbacks, focuses entirely on letting the community decide on block validators through staking. Shelley will also see the introduction of a delegation and incentives scheme, a reward system to drive stake pools and community adoption.

The Shelley mainnet will be powered by the Ouroboros Genesis protocol, an exact launch date still remains elusive.

ADA Price Reaction

Cardano is one of the few crypto assets making steady gains today. From an intraday low of $0.056 (588 satoshis), prices climbed around 5% to reach $0.059 (613 sats) a couple of hours ago.

ADA has rallied with the rest of the altcoins this year making around 80% in 2020 so far though those gains could be wiped out if bitcoin corrects deeper.

It has not been enough to displace Tezos for the tenth position in the crypto cap charts however as Cardano is over a billion dollars adrift in terms of market cap.

The big picture shows that ADA is still deep in a bear market languishing 95% down from its all-time high two years ago. It is hoped among the community that Shelley can catalyze a major recovery.

Will Cardano recover in 2020? Add your comments below.

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Martin Young

Martin Young

Martin has been writing on technology for 15 years, he has a keen eye for emerging cryptocurrency news, blockchain developments, and market sentiment.

Related Posts

Sango, President Faustin-Archange Touadéra

The Central African Republic Unveils Sango Project, Disappoints The World

3 days ago
Three Arrows Capital (3AC)

Inside The Three Arrows Capital (3AC) Collapse And The Lessons It Has Taught Crypto

2 weeks ago
Celsius

Hindsight 20/20: The ‘Missed’ Signs Of The Celsius Insolvency

3 weeks ago
Harvard Professor in front of a blackboard

A Harvard Professor’s Loony And Sadistic Suggestions For Crypto Regulation

3 weeks ago
New ERC-20 token created

Shitcoin Season Over? ERC-20 Token Creations Drops 39% In One Month

4 weeks ago
NYDIG, jenga tower

NYDIG Paper Claims Algorithmic Stablecoins Are Impossible And DeFi Too Risky

4 weeks ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.