Leaked Image Suggests Cardano Could Be Transitioning To A Decentralized System Soon
While it has been on the headlines for quite a while now, Cardano seems destined for even greater things, thanks to its project with the Shelley network. It has been talked about, written about and criticized, but it still reigns strong.
Charles Hoskinson of IOHK, while on an interview just recently, shared his views on the trajectory taken by the industry, including its collision with the global financial systems. He covered a plethora of issues, including the backlash directed upon Facebook’s Libra project.
It started with the leaked image of Cardano’s GitHub repository, which seemingly insinuated that they were switching from centralized nodes to a decentralized network. Well, the rumor is still spreading, even as ADA staking is believed to be happening in three months.
According to the Foundation, Cardano is their third generation platform and was developed to major on research and peer-review. The platform claims to have started with the Byron, which focused more on the requirements of a wallet for the network. They then leveraged the Blockchain to create an “Ouroboros” proof-of-stake consensus.
However, the Byron era gave way for the Bootstrap era whereby, the Foundation developed trusted nodes to maintain the network. Here, Charles Hoskinson and Jeremy Wood-founded IOHK was at hand to coordinate the nodes, and even help build the first vision for Cardano.
The leaked image, however, gave a sneak look from the open-source Daedalus wallet. It also had a countdown of Cardano’s impending plans to decentralize. It is important to note that the image is speculative and only hints on the transition as well as the completion of the Shelley update.
Shelley’s timeline should be over before the end of 2020, although it is widely believed that development could end far much earlier than that. Meanwhile, there hasn’t been any official update regarding the leaked image from Cardano or IOHK.