Sunday, February 28, 2021

Weiss Ratings: We Need Systems Like Cardano (ADA) To Take Over the World

Weiss Crypto Ratings, the leading provider of independent, unbiased, and trusted ratings of cryptocurrencies, has been one of the admirers of the Cardano (ADA) project since it embarked on its journey from Byron to Shelley.

The crypto rater has some hours ago taken to Twitter to acknowledge the efforts implemented by Cardano’s team of developers, to launch a full node wallet for ADA users (Daedalus 1.0.0), which is part of Cardano (ADA) transition to Shelley.

It further stated the excellent features the wallet introduces. Afterward, the Crypto Rater showcased its excitement in the progress of IOHK, stating that we need systems like Cardano (ADA) to take over the world, where the legacy system is on its death throes.

Weiss Crypto Ratings wrote:

“Cardano has launched Daedalus 1.0, its full node wallet for ADA users, as a part of Cardano’s transition from Byron to Shelley. The wallet provides highly secure transactions and a refined UI. Future versions will support custom tokens and more.

Good to see the team at IOHK continuing to plow ahead. We need systems like Cardano’s ready to step up and take over a world where the legacy system is on its death throes.”

Charles Hoskinson Says Friends and Family Infrastructure of Shelley is Slowly Turning On

The CEO of IOHK, Charles Hoskinson shared the progress the team has made in the process of transitioning from Byron to Shelley.

In the tweet, Hoskinson said, “Meanwhile in Cardano land, a Wizard arrives precisely when he means to!”

In response to the tweet, a supposed Cardano community member, identified on Twitter as Daniel Epstein, asked if it’s the hybrid core nodes. He asked, “I’m guessing this is the new hybrid core nodes creating the first block with d set at 1?”

Responding to his question, Charles Hoskinson said:

“Not quite yet, friends and family infrastructure slowly turning on. But we are getting much closer to the hybrid phase.”

The Strong Hope of Charles Hoskinson and IOHK In Shelley

IOHK, the firm behind the Cardano (ADA) development, headed by Charles Hoskinson, has strong hope in the success of Shelley. It stated in the roadmap that when Shelley is fully launched, Cardano will be the most decentralized cryptographic project in existence.

“Come the end of the Shelley era, we expect Cardano to be 50-100 times more decentralized than other large blockchain networks, with the incentives scheme designed to reach equilibrium around 1,000 stake pools.

Current prominent blockchain networks are often controlled by less than 10 mining pools, exposing them to serious risk of compromise by malicious behavior – something which Cardano avoids with a system inherently designed to encourage greater decentralization.”

Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

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