Cardano’s Shelly Mainnet: What is it and How Does it Operate?

The long-waited launch is finally here, and investors are now anticipating to know what this launch means and how it will shape the blockchain market. Cardano’s testnet went live on December 15th, 2019, and within 24 hours of going live, Cardano holders had staked over 5 billion ADA coins, which are worth roughly $195 million. 

According to a Twitter report by the research and development company behind Cardano IOHK, over 120 staking pools went live within the first few minutes of operations. The tweet also shows that IOHK has a clear Shelley roadmap that will help attain the initial target of 1,000 staking pools.

The release of Cardano Shelly mainnet has been hefty on the chain selection and the blockchain market. Before it was released for public testnet, Shelly mainnet went through a lot of reengineering and rearchitecting. This move has also helped stabilize the network and ensure that the mainnet has direct access to the expected market.

The Origins of Cardano

While learning more about the Cardano blockchain, we cannot leave out the blockchain’s inception and how it came to be. Charles Hoskinson conceptualized the birth of Cardano alongside Jeremy Wood in 2015. Charles is also a co-founder of Ethereum, one of Bitcoin’s biggest competitors. Charles saw the need to upgrade Ethereum as a second-generation blockchain, creating an opening for a blockchain that would lead to the entire industry’s evolution. 

Cardano makes a remarkable sheer amount specifically channeled for its upkeep and smooth operations. Thanks to successful partnerships, Cardano has three primary companies at its core that work to ensure the blockchain’s success. These three companies are Input Output Hong Kong (IOHK), the Cardano Foundation, and Emurgo. 

The primary agenda behind the founding of IOHK was to research and develop a company committed to using peer-to-peer innovations in building financial services accessible for all. IOHK contract indicates that they should design, build, and maintain Cardano until 2020. 

After their tenure, a Japanese company, Emurgo, assumes the responsibilities of supporting, developing, and incubating commercial ventures to revolutionize the use of blockchain technology in their industries.

Impact of the Launch on Crypto Trading

Cardano uses a highly scientific approach and adoption of formal verification to build its protocol infrastructure. This has spearheaded its vast following in the crypto market, and it now stands as one of the largest cryptocurrencies by market capitalization. 

The crypto market protocol facilitates the decision to move Cardano to a fully decentralized state. Additionally, its main focus is to ensure that every user who participates in the network consensus earns real rewards

Therefore, this move has created multiple blocks to counter the delegation of stakes or operating stake pools

Crypto trading requires investors to delegate their account management to facilitate the development and creation of tokens. Cardano Shelley selects pools that validate new blocks on the network. However, the number of tokens staked in a particular block determines new blocks.

Why Cardano Project is Unique

Cardano is the home for ADA cryptocurrency, which is used to receive and send digital funds. It holds the current state of money and also represents the future of money operations. Making direct transfers is significantly easy with Cardano, and you are sure your funds will be secure through the entire process.

It is a technology that can run financial applications used by individuals, governments, and organizations worldwide. Unlike other financial institutions, the Cardano platform is constructed in various layers. Doing so helps in flexibility and ensuring that the system can be maintained easily without interfering with the financial operations.

The Future of Cardano

After Bitcoin and Ethereum, Cardano is a third-generation blockchain to take the blockchain market by its horns. Unlike its predecessors, the creation of Cardano circles around solving:

The first and second blockchains have unique and straightforward issues that the crypto space couldn’t address. For instance, Bitcoin and money transfer was a great success as the first blockchain. However, beyond making it possible to transfer funds from one person to another, it wasn’t straightforward for the receiver to know when the transfer was complete. 

This hindrance, therefore, led to the formation of Ethereum and smart contracts as a second-generation blockchain. With smart contracts’ assistance, the second generation blockchain synchronized money, assets, and other valuables in a conflict-free and transparent way without involving mediators. As more blockchains kept coming up and gaining acceptance, these blockchains began to lose efficiency. Therefore, although it was making progress, the blockchain failed to focus on advancing and creating more channels for efficient transactions.

The third-generation blockchain considers the mistakes that its predecessors failed to solve, thereby improving its performance. It has consequently undergone various scrutiny and scientific engineering to ensure it reaches the ultimate goal of being a High Assurance Code. 

Therefore, unless otherwise stated, Cardano has exceptional hopes of remaining on top by providing the possibility of transferring funds and an opportunity to monitor the transaction process from point A to B.


Bitcoin live price
price change

Cardano gives users an assurance that its algorithm is precise and maintains high-quality coding. In other words, with this third-generation blockchain on your side, handling enormous financial crises between governments, organizations, or individuals will not be complicated. Additionally, the amount of data collected through this blockchain will remain secure and only accessible to authorized personnel for customer security.

Stay up to date with our latest articles

More posts

Here are the Benefits of Auditing Your Smart Contract with SolidProof

Auditing a smart contract is vital to ensure that the code functions as intended. SolidProof offers a wide range of services to help with this process. The company guarantees a sound audit process and an experienced team of auditors.  Here are the benefits of auditing a smart contract with a reputable company such as SolidProof: A wide range of services: SolidProof offers a wide range of services to help with the audit process, including code review, security analysis, and more.…

Smart Contracts Vulnerabilities Specific to The DeFi Space

As the financial world moves increasingly online, it's becoming more and more essential to ensure that all transactions run securely. One way this is possible is through the use of smart contracts.  Smart contracts are computer programs that automatically execute the terms of a contract. They provide a secure way to conduct transactions without relying on third-party intermediaries.  While the use of smart contracts offers many advantages, they are also vulnerable to attack. In this blog, we will explore how…

Malicious Attacks on Smart Contracts that Auditors Can Easily Identify

With many businesses adopting blockchain technology and Smart Contracts, offering reliable security audits in the industry has become increasingly important.  Businesses may protect their assets and contracts by recognizing and preventing harmful assaults. This blog post will explore the different attacks a group of criminals can carry on Smart Contracts. We'll also look at real-world instances of assaults to help you secure your contracts. What are Smart Contracts? Understanding the Benefits of This Technology What are smart contracts? They are…

How Smart Contract Audit Can Help Prevent Hacks

As companies move toward implementing smart contracts, the need for technical audits becomes increasingly essential. Having a third-party auditor check your contracts for vulnerabilities can prevent your company from suffering from a hacking attack.  What are Smart Contracts? A smart contract is a script that automatically carries out a contract's provisions. Smart contracts are self-executing, meaning that once the system verifies the meeting of pre-determined conditions, the contract will automatically execute. This eliminates the need for intermediaries such as lawyers…

Top 10 Ways to Earn Free Bitcoin in 2022

Here are the best ways to earn free Bitcoin when your purse is light. --- Are you interested in Bitcoin, but still hesitant to risk putting money towards it? Alternatively, are you looking to sat every sat possible, but lack the dry powder to buy more? Here’s a secret: you can put more bitcoin in your pocket without spending a dime – or even doing any real work.  That’s not to say you’ll earn much bitcoin without either of those…

Are Gold-Backed Tokens Worth Investing During Crypto Bear Market?

The crypto market is under the complete control of bears, investors taking short positions to profit from declining prices. In this unstable environment, new capitalists are fearful or skeptical when funding projects. Instead, they turn to more reliable assets that would not wipe out their portfolios when or if they flop. Gold-backed tokens represent a category of assets ready to provide portfolio stability and allow investors to overcome the bear market without too many losses. On the contrary, gold-pegged tokens…

What is Taro? Trading Assets and Currencies on Bitcoin

Taro leverages Bitcoin, lightning, and Taproot to enable the peer-to-peer transfer of currencies and assets beyond just BTC. —  Worried that Bitcoin is too boring to play within the growing digital asset economy? Fret no longer.  Using Taro, the original blockchain network can support the decentralized exchange of multiple assets – including fiat currencies. Moreover, the protocol works together with the lightning network, letting users transact – instantly and for free – with non-BTC-denominated balances.  Read below to learn about…

What is Fedimint? The Custody Solution to Bitcoin Privacy

Fedimint combines distributed custody with blind-signed ecash tokens to let Bitcoin users transact in private. --- Despite its growth, Bitcoin still faces some glaring limitations to reaching mass adoption as a fully censorship-proof payments network. One of them is privacy. Bitcoin’s ledger is fully open and public, meaning anyone can track another person’s transactions if they know his public address.  The other is a custody problem. While wallet software UX has improved considerably over time, many Bitcoin holders still store…

What Is a Crypto Bear Trap?

Cryptocurrencies are often incredibly volatile and can see massive price swings in a short time.  This makes them ripe for bear traps. A bear trap is a situation where traders wrongly think a coin is about to reverse a downtrend. These events often result in significant losses.  This guide will discuss crypto bear traps, how to identify them, and the risks involved in these situations. Introducing Crypto Bear Traps A bear trap happens when a trader buys assets, expecting the…

Understanding the GameFi Phenomenon

The GameFi industry is changing the way people think about gaming and finance. It provides a new way for gamers to interact with each other and earn money. It is also giving people a new way to invest their money.  The GameFi industry has the potential to change the way these industries operate. This guide will look more closely into this new business, covering several features. What Is the GameFi Sector? The GameFi sector is a crypto-based industry that uses…