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.”
Hardfork successful. The OBFT era has begun
— Charles Hoskinson (@IOHK_Charles) February 20, 2020
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.