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    “The Soul of Shelley is Out”: Cardano's Formal Specifications Update Released

    In a similar way Android labels its updates, so does Cardano’s main development team, Input Output Hong Kong (IOHK). The latest update on the Cardano (ADA) blockchain is the Shelly update that improves the Byron update. The Shelly update has been a constant topic of discussion across the Cardano community and it is finally here.

    The announcement by Charles Hoskinson, the creator of Cardano, on Twitter confirmed that the “soul of Shelly update” is out.

    Charles Hoskinson's Twitter update on Shelley (Twitter)

    The Soul Of Shelly Update

    The Shelley update formal specifications is released on the IOHK’s blog showing the transformation of the platform from its Byron era. Some of the formal specifications on the Shelley update include:

    • Engineering design specification for delegation and incentives in Cardano-Shelley: Describes the requirements and design for the delegation and incentive mechanisms to be used in the Shelley release of Cardano.
    • A formal specification of the Cardano ledger: Specifies the ledger rules for Shelley, including delegation and incentives.
    • A specification of the non-integral calculations in the ledger: This document defines a way to exactly calculate non-integral calculations in the ledger for Shelley which use elementary mathematical functions.

    The IOHK team further confirmed that these will not be the final changes to the Shelley update as development progress will continue on the Cardano platform. This is to ensure the users experience an efficient, safe and totally decentralized platform with Cardano.

    The IOHK Summit In Miami

    The announcement of the formal developments and specifications on Shelley comes a day before the IOHK Summit starts in Miami on April 17th and 18th 2019. The event is a huge milestone for the Cardano community and Charles confirmed that he will reveal the updated roadmap for the team during the event.

    Cardano’s value and community are growing in the past few weeks following the release of the update. ADA at the moment is placed 10th on the Coinmarketcap listings with a total market capitalization of $2,152,721,849 USD. ADA, as at the time of writing, trades at $0.083030 USD, representing a percentage point increase in the last 24 hours.

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    B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

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