Cardano Shelley Upgrade Is Weeks Away, ADA Spikes 15%

The Cardano Shelley Upgrade is weeks away but the ADA token price increased by 15% as the Cardano founder put a date to the launch. According to Charles Hoskinson, the initial phase of the Shelley upgrade arrival will start as early as June 9 and will be live by  June 30 if everything goes well so let’s read more in the latest Cardano news.

Speaking on the Cardano Shelley upgrade, Hoskinson outlined the plan to launch the upgrade over the course of the upcoming month:

 “Guys wanna know when Shelley is? Let’s tell ya… June 9 – this is when it opens up to everybody. The next date we have for you is June 16, that’s when we start putting things together end-to-end. If everything works without a hitch, June 30 we’re shipping Shelley.”

Hoskinson referenced the long task of getting Shelley ready for the public. The Cardano founder has previously come under a lot of criticism for failing to add more substance to the whitepaper of Cardano and its potential in the form of a confirmed launch date. Hoskinson added:

 “I’m really proud of everybody. It’s been a long time coming and it’s been a difficult year because we’ve had to change the tires while the car is running. What we’re creating is basically the world’s next operating system.”

Shelley will also bring the arrival of the staking method on Cardano, turning it into a proof of stake blockchain. With the proof of stake, the coin holders will help secure the network by staking their coins which are rewarded with regular payouts. Hoskinson posted an image of the Shelley roadmap to his Twitter page where it goes into more detail on the rollout of the update, revealing the staking rewards. According to the Cardano roadmap, the successful implementation of Shelley will only make Cardano more useful for the users:

 “The Shelley era represents the natural maturation of the network, making it more useful, rewarding, and valuable for users new and old.”

By the time of writing, the Cardano ADA token price gained 15% for the day and most of the growth is coming in the hours after the announcement made by Charles Hoskinson.