Huobi x Cardano Shelley Roadmap!
Ada or Cardano is in the process of going through a protocol upgrade to shift to proof of stake along with some other interesting features. Today, we will walk you through a quick overview of Cardano, and give you the upgrade highlights from sources noted at the end. This is no by means a complete description. However, it should emphasize the importance to you if you are an Ada holder or going to be in the future.
Cardano is the home to the Ada cryptocurrency, which can be used to send and receive digital funds. This digital cash represents the future of money, making possible fast, direct transfers that are guaranteed to be secure through the use of cryptography.
Cardano is more than just a cryptocurrency, however. It is a technological platform that will be capable of running financial applications currently used every day by individuals, organizations, and governments all around the world. The platform is being constructed in layers, which gives the system the flexibility to be more easily maintained and allow for upgrades by way of soft forks. After the completion of the settlement layer running Ada, a separate computing layer will be built to handle smart contracts, the digital legal agreements that will underpin future commerce and business. Cardano will also run decentralized applications, or apps, services not controlled by any single party but instead operate on a blockchain.
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- The framework was built in Haskell code which is a math-based approach that seems to be a more secure and reliable protocol.
- A formally verified Proof of Stake consensus called Ouroboros.
- Cardano is open source and patent-free.
Two Advantages of Cardano
1. Cardano’s use of the proof of stake model brings lots of advantages such as less susceptibility to interference. This is because the nodes will be responsible for throughput and thus eliminating the need for extra machines. In turn, less energy will be consumed which is better for the environment.
2. Rewards are based on the number of tokens held rather than the amount of computational power contributed aka proof of work.
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Highlights To Shelley
What is Shelley?
Shelley is one of the five eras of Cardano’s development. These eras and the specific capabilities and functionality they deliver are outlined in the Cardano Roadmap.
Shelley marks the beginning of Cardano’s network decentralization and represents the most significant milestone to date. Much of Cardano is being developed in parallel, and Shelley serves as the network’s foundation: once it’s complete, much more becomes possible, including the smart contract functionality.
How does this benefit you?
You will be able to stake your Ada on Huobi Pool to get HPT rewards today!
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