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Cardano (ADA) Releases Demo For Shelley Transition Combinator. See Video

News
Mon, 06/29/2020 - 13:58
Vladislav Sopov
Cardano (ADA) is approaching the Shelley stage of its mainnet. A demo of the Hardfork Combinator has been released by the product team to explain its technics
Cardano (ADA) Releases Demo For Shelley Transition Combinator. See Video
Cover image via stock.adobe.com
Contents

Input Output HK, a development studio behind the Cardano (ADA) blockchain, has released a technical explanation of Hardfork Combinator operations in the process of the Shelley mainnet deployment.

Hardfork Combinator that allows avoiding hardfork

According to the official announcement by IOHK on the Cardano (ADA) forum, the concept of the Hardfork Combinator is designed to avoid a chain split in its common understanding. It allows a seamless transition from the Byron semi-decentralized phase to Shelley mainnet.

Cardano (ADA) releases demo for Hardfork combinator
Image via Twitter

The new instrument is being deployed to the testnet environment. The Cardano Foundation has released a video with a detailed technical explanation of how it works. Philipp Kant, Director of Formal Methods in IOHK, showcased the codebase and demonstrated why it was created this way.

This Combinator allows a smooth transition from Byron to Shelley for every node of the Cardano (ADA) blockchain. Without this instrument, a disagreement could evolve between different nodes.

Once that occurs, different versions of the protocol can start existing which, in turn, may lead to severe conflict between different parts of the blockchain.

One node, two protocols

With this combinator, one node can operate under various protocols at the same time. According to Mr. Tim Harrison, marketing and communications director of Input Output HK, the Combinator is crucial for the switch between the two stages of Cardano (ADA) progress:

While running the first protocol (i.e. Byron), it can be triggered by a special on-chain update whereupon it manages the smooth transition to running the next protocol (i.e. Shelley).

The codebase of the Hardfork Combinator has been successfully tested and is ready for deployment in the mainnet.

Mr. Kant explains the top distinct features of the new release and their role in the very sensitive transition process in a video posted on the official Cardano (ADA) forum.

As covered by U.Today Crypto News, Cardano (ADA) is going to launch the Shelley mainnet in a few weeks. Currently, the process of development is going through the public testing stage after a successful ITN testnet and friends&family testnet.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director

News
Mon, 07/13/2020 - 14:38
Vladislav Sopov
John Lilic, managing director at ConsenSys decentralized development studio, has shared an over-bullish prediction for Ethereum (ETH) progress
Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director
Cover image via stock.adobe.com
Contents

John Lilic leads international business development in the ConsenSys leading blockchain development studio. He is also an expert in energy markets and cryptocurrency segments. He tracked the progress of Bitcoin's (BTC) and Ethereum's (ETH) market capitalization statistics, coming up with an extravagant prediction.

Bitcoin (BTC) should get ready for parity

Mr. Lilic outlined that Ethereum (ETH) is showcasing much healthier dynamics than its competitor is. For instance, the flagship cryptocurrency still surpasses Ethereum (ETH) by 6.3x in terms of market capitalization, while simultaneously collecting 20% fewer fees than Ethereum (ETH).

John Lilic of ConSensys foresees parity of Bitcoin (BTC) and Ethereum (ETH) market capitalizations
Image via Twitter

Also, Ethereum (ETH) is demonstrating much more impressive price dynamics this year. It gained almost 37% against Bitcoin (BTC) in 2020. That said, Ethereum (ETH) looks severely undervalued to the top manager of ConsenSys.

However, Ether is on the path to eliminating this discrepancy. Eventually, the top two cryptocurrencies may reach market capitalization parity, concludes Mr. Lilic.

Related Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains
Related
Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains

As covered by U.Today Crypto News recently, Coinmetrics on-chain research team called Bitcoin (BTC) and Ethereum (ETH) the unique crypto behemoths that have managed to recover from Black Thursday.

Bitcoin (BTC) is losing supremacy in "fee race"

Should Ethereum (ETH) overcome its undervaluation, its price may be over $1,550 based on liquid supply and current Bitcoin (BTC) market capitalization.

Recently, it was unveiled that Ethereum (ETH) blockchain continues to surpass Bitcoin (BTC) in terms of network fees for more than 30 days in a row. Ethereum (ETH) is seeing this advantage for the first time in its history.

As U.Today Crypto News reported previously, ex-Messari analyst and angel investor Qiao Wang identifies two main catalysts of Ethereum's (ETH) price run in the mid-term perspective.

Related Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang
Related
Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang

According to Wang, the upcoming rally may be fueled by a long-awaited transition to Proof of Stake and fixing the monetary policy of Ether token.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)