Ever since Cardano creator Charles Hoskinson announced the roadmap for the long-awaited Shelley update, the ADA pricing and community have been burning with excitement.
This update is expected to launch in less than two weeks and will transition the Cardano ecosystem from a federated network to a fully decentralized one.
The developers of Input Output Hong Kong (IOHK), the company responsible for Cardano, have been working tirelessly in recent years to develop the Shelley code base. Shelley's update has been hailed as one of the most notable transitions in the cryptocurrency community. The Weiss rating agency has acknowledged this in a recent post.
Shelley's impending launch is a giant leap for cryptocurrencies
In a tweet From June 27, Weiss, popular for her somewhat controversial cryptocurrency posts, postulated that Shelley is a small step for IOHK but "A giant leap" for the global cryptocurrency ecosystem.
– Weiss Crypto Ratings (@WeissCrypto) June 27, 2020
In Charles Hoskinson's own words, the Cardano network will be able to handle up to 1000 transactions per second in the near future after the Shelley update.
He added in a video that this year, the smart contract blockchain will become technologically superior to other blockchains like ethereum, bitcoin, or basically any other platform in the entire cryptocurrency industry.
Hoskinson had declared at that moment:
“This year, the industry will see Cardano rise to the best cryptocurrency in the world. There really will be nothing on the market that is as good as what we are delivering this year. Because at the end of the day we have everything ”.
Meanwhile, the Incentive Testing Network (ITN) that has been running since 2019 to be continue until the full deployment of the Shelley core network.