Charles Hoskinson, CEO of IOHK, finally announced the release date for Cardano Shelley after five years of hard work.
Charles Hoskinson, CEO of IOHK, announced, after the success of the Incentivized Testnet (ITN), the date on which Shelley will be released, the latest update from Cardano. The update will take place between June 30 and July 7.
We all know that Cardano's development process is slow. However, IOHK CEO Charles Hoskinson said such a "slow and steady" approach to development is the best option in the long run. Shelley is one of the five eras in Cardano's product development roadmap. Shelley's functionality will provide true decentralization through its advanced Ouroboros consensus algorithm. In line with Cardano's approach, the IOHK research behind Shelley lasted five years. For many, it has seemed like an eternity. However, everything indicates that the wait is over.
During the last Crowdcast podcast, Charles Hoskinson outlined the plan to launch Shelley over the next month. Specifically, Hoskinson noted, "Do the boys want to know when Shelley is? Let's tell you… June 9: it is when it opens to everyone. The next date we have for you is June 16, which is when we start putting things together from start to finish." He also added that "if everything runs smoothly, on June 30 we will send Shelley." However, in case things don't go as expected, the launch could be delayed until July 7.
He posted on his Twitter account, @IOHK_Charles, a summary of the plans for Cardano Shelley in the coming months.
Also, during the podcast, he assured to be proud of everyone. He explained that "It has been a difficult year because we have had to change the tires while the car is running." Hoskinson referred to the project as the world's next operating system. "The implementation of Shelley represents a critical step toward our ultimate goal of empowering people, regardless of background or circumstances, to access financial services" said Hoskinson. The CEO assured as well that the successful implementation of Shelley will make Cardano more "useful and rewarding" for users. The general response to the announcement was quite positive. In particular, a Twitter user stated that "The giant is waking up."
How did the markets react to the news? At the time of writing, ADA surpassed largely the $0.07 level according to the Coinmarketcap.com online tool. This represents an increase of nearly 50% during the last week. Likewise, ADA has a market cap of $ 1.7 billion with a 24-hour volume of $ 492 million, ranking 11th according to its market capitalization.