Cardano Expected to Become the Most Useful Cryptocurrency After the Launch of Shelley Testnet

Shelley Testnet, which is 50 to 100 times more decentralized as compared to other blockchain networks, is awaiting its launch after a lot of hassles and subsequent delay. The launch of Shelley Testnet was announced by IOHK on Thursday. IOHK (the input-output Hong Kong) is the organization, whose name is associated with the creation of a new contract blockchain project, Cardano. IOHK is called the brainchild of Charles Hoskinson, who is the co-creator of Ethereum along with Vitalik Buterin. The launch of Shelley Testnet is expected to open up new opportunities for Cardano to prove its efficiency to be ranked the most useful cryptocurrency.

Charles Hoskinson, also the creator of Cardano has affirmed new developments on behalf of IOHK. It is now concentrating on developing the smarter contract platform (Cardano), with more advanced features like other blockchain platforms. Although, the delay in launching Shelley Testnet (the mainnet of Cardano), was eventually slowing down the entire process of Cardano being able to prove its worth. This delay has also caused much concern amongst the crypto market about the viability of the project.

However, the recent announcement by Charles Hoskinson, about Cardano getting ready for its self-node Testnet has brought things under control. As per the news, with the launch of Shelley, people’s perception of Cardano will change substantially.

At the event to celebrate Cardano’s second anniversary, Hoskinson claimed that Cardano will excel in terms of its functionality and more advanced features by the end of 2020. Hoskinson confirmed at a meet, that he along with his team is trying extensively to make Cardano, the most robust and useful cryptocurrency. Cardano will be embedded with much more technological advancements, than just being able to send thousands of transactions in an hour. As such, the Shelley mainnet is expected to utilize a stake proof protocol called Ouroboros Genesis, that guarantees advanced features similar to Bitcoin. This protocol will have decentralized applications within the ecosystem of Cardano, that will provide smart contracts for both new and existing developers.

The launch of Cardano symbolizes the slow transition from Byron to Shelley Testnet, which is an important milestone in the cryptocurrency market. As per the official website, Cardano Shelley Testnet paves the way for the users to experiment with staking.

Of late, Cardano has been seen expanding its services to the Chinese territory. Considering the needs of the community, the foundation recently appointed Ryan He as Assistant Manager. Ryan’s appointment is likely to help develop a localized strategy and improve the Chinese community’s engagement in blockchain technology.