Cardano’s Shelley Transition Expected In Two Weeks Is “One Giant Leap For Crypto”: Weiss Ratings
Ever since Cardano creator Charles Hoskinson announced the roadmap for the much-awaited Shelley upgrade, the price of ADA, as well as the community have been on fire with excitement.
This upgrade is expected to be launched in less than two weeks and will transition the Cardano ecosystem from a federated network to a completely decentralized one.
The developers at Input Output Hong Kong (IOHK) — the firm that is responsible for Cardano — have been working tirelessly over the last couple of years to develop the Shelley codebase. The Shelley upgrade has been hailed as one of the most remarkable transitions in the cryptocurrency community. Ratings agency Weiss has acknowledged this in a recent post.
Imminent Shelley Launch Is One Giant Leap For Crypto
In a tweet on June 27, Weiss — popular for its somewhat controversial crypto posts — postulated that Shelley is a small step for IOHK but “one giant leap” for the overall cryptocurrency ecosystem.
In Charles Hoskinson’s own words, the Cardano network will be able to handle as much as 1000 transactions per second in the near future after the Shelley upgrade.
He added in a video that this year, the smart contract blockchain will become technologically superior to other blockchains like ethereum, bitcoin, or basically any other platform in the entire crypto industry.
Hoskinson had stated at the time:
“This year, the industry will see Cardano ascend to the best cryptocurrency in the world. There really is going to be nothing on the market that’s as good as what we’re delivering this year. Because at the end of the day we have it all.”
Meanwhile, the Incentivized Test Network (ITN) that has been going on since 2019 will continue until the full deployment of the Shelley mainnet.