- Charles Hoskinson has today officially announced that the hard fork for the Cardano mainnet.
- The expected date for the hard fork activation set to be July 29, 21:45 UTC. However, in case of severe issues regarding the launch, it will be stopped by this Monday, July 27.
The creator of Cardano, Charles Hoskinson, in his YouTube channel has today officially announced that the Shelley hard fork for the Cardano mainnet initiated.
The founder also announced that the countdown for the hard fork activation has already begun. The IOHK (Input Output Hong Kong) has announced in a tweet that they have submitted an updated proposal that has initiated a countdown process that will transfer the current Cardano mainnet from the previous federated Byron network into a new decentralised Shelley network.
It's a go… Within the past 30 minutes, we submitted an update proposal, starting the ‘countdown’ process that will transform the #Cardano mainnet from a federated Byron network into a decentralized #Shelley network. Here's the lowdown… @Cardano https://t.co/jqD8YyNrAP
— Input Output (@InputOutputHK) July 24, 2020
IOHK Engineers And QA Team To Conduct Tests
The expected date for the hard fork activation is set to be July 29, 21:45 UTC. However, in case of serious issues regarding the launch, it will be stopped by this Monday, July 27.
Over this week the IOHK will conduct many tests that will decide whether the hard fork will launch on the specified date or not. IOHK said that the engineers and the QA team would conduct a total of 72 hours burn in to go through all the checklists before the final activation.
Cardano, as we know, is a Blockchain platform based on distributed ledger technology (DLTs). Cardano’s signature cryptocurrency is ADA, which is ranked 6th in terms of the total market capitalisation. As of now, ADA is trading at $0.139096 and is up by 13.2% in the last 24 hours.
CEO Says They Will Soon Provide Required Post Hardfork Information
According to Charles Hoskinson, who is also the CEO of IOHK has said that they will also provide information regarding Ledger, Trezor, and all sorts of other things that are going to take place post hard fork. He also added that not everyone is entirely at the correct place where they need to be yet for the hard fork and so some of the services may go down for a week or two. It is also expected to provide information about the exchanges and the wallets which can be used post lockdown.
IOHK’s Director of Marketing and Communications, Tim Harrison, explained all the software integration with the nodes and wallets and said that it is no less than a Herculean task. However, in case of contradictions, they may also release a new model and abort the ongoing launch processes.