Shelley Hard Fork Decision Comes Today: Will It Happen On July 29?

The Shelley hard fork decision will come today in a few hours as Charles Hoskinson explained, and we will know whether it will take place on July 29. Let’s read more in our latest Cardano cryptocurrency news.

According to the IOHK CEO, all of the signs are that the deadlines can be met but if they are not, the Shelley hard fork will be postponed for about 5 days. Charles Hoskinson, the person behind Cardano informed about the current progress on the Shelley hard fork and there will be another major video update where IOHK will report on the schedule for August. The video update will also provide more information on which exchanges and wallets will be operational after the hard fork and which ones will be unavailable:

“We will include a lot of information about Ledger, Trezor, and all kinds of other things that gonna happen post hard fork, not everybody is completely where they need to be yet for the hard fork. So some of these services will temporarily go down for a week or two, maybe a little longer. There are mitigations for that if you absolutely need liquidity during that time period like restoring your wallet in Daedalus for example. So we will cover all that next week. We will talk about which exchanges will probably ready to go […] and which ones won’t be.”

IOHK’s busy right now with the Shelley hard fork decision and they are also working on the final roadmap for it which will be published today if the tests came back positive. If the tests go wrong, the next update will be on July 29^th which will postpone the hard fork for about five days:

“If we get the green light tomorrow for tomorrow, the everything is deterministic for the 29th and the hard fork. Science points yes for that. The next window for that would be initiating the update proposal on the 29th.”

Hoskinson also said that the staking will not start right on July 29^th but the blocks will be available for staking from August 18^th on the stake pools. Cardano will also remain with the OBFT consensus (Ouroboros Byzantine Fault Tolerance).

“We just getting everything where it exactly needs to be and conduct all the tests. It’s been a very busy last two weeks. We actually worked the weekends und were basically working 24/7 […] so you may be noticed by the commit volume that it has been a ridiculously amount of work, mostly around integration and configuration. So each piece is working beautiful, but when you pull them together there’s always rough edges.”