Monday, March 1, 2021

Cardano (ADA) Network Hard Fork Successful. The OBFT Era Has Begun –Charles Hoskinson Announces

The much-awaited moment has finally arrived in the Cardano ecosystem. It has just been announced that the Cardano (ADA) OBFT hard fork has been successfully completed as promised.

The IOHK founder and CEO of Cardano (ADA) Charles Hoskinson jingled this much-anticipated good news moments ago via his Twitter handle.

According to the previous reports, the just-completed Cardano network upgrade is specifically meant to clear the path for the launch of Shelley mainnet.

Shelley is meant for the realization of the full decentralization of the Cardano network. This latest achievement is a step in the right direction for the growth and development of the Cardano ecosystem across the board.

Charles Hoskinson broke the good news, “Hardfork successful. The OBFT era has begun.”

Recap of Cardano (ADA) Network Upgrade

Cardano (ADA) Ouroboros Byzantine Fault Tolerance (OBFT) hard fork is a technological update expected to introduce a new consensus algorithm that is based on BTF. Now that the hard fork is successfully concluded, a new consensus has set in automatically.

As once shared, this hard fork process is not meant to create a new digital currency. This used to be an element of confusion within the cryptocurrency community.

Some community members with little or no knowledge about the network upgrade envisaged on the possible emergence of a new digital token.

This network upgrading process consists of two hard forks from Byron to Shelley. The Byron phase uses Ouroboros Classic, while Ouroboros Byzantine Fault Tolerance (BFT) hard fork is meant to be the first step towards the Shelley phase.

Going by a report, the Daedalet wallet will possibly need to be updated. But the Yoroi Wallet users are likely not affected by the hard fork.

Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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