Thread by @InputOutputHK

As we continue looking back at Cardano’s milestones, today we focus on Shelley, Cardano’s second development phase. #CardanoADA

🧵 1/n

The Shelley phase

Shelley was a period of growth and development for the network, encompassing the critical early steps in Cardano’s journey to optimize #decentralization.

🧵 2/n

This phase saw the complete re-implementation of the Cardano node for improved reliability, assurance, and performance, and the ability to maintain and evolve the node over time.

🧵 3/n

Shelley also saw the introduction of a delegation and incentives scheme through community-run stake pools, increasing Cardano’s decentralization, #security, and robustness.

🧵 4/n

The scheme allowed #Cardano users to stake their ada to community-run stake pools and participate in the network.

1,000 #stakepools went live with 45% of all $ada in circulation staked.

🧵 5/n

As for wallet developments, Shelley saw:

– Faster wallet restoration
– Improved paper wallets
– Delegation in Daedalus & wallet backend redesign
– Extended hardware wallet support
– Hot and cold wallets implementation

🧵 6/n

Other developments included:
– The introduction of the hard fork combinator
– A switch from Ouroboros Classic to Ouroboros BFT & later to Ouroboros Praos
– Multi-sig transactions
– Addition of metadata to transactions
– Network layer redesign & P2P implementation

🧵 7/n

Shelley set the stage for a decentralized and functional network, laying the groundwork for Goguen, Basho, and Voltaire.

To look back at Cardano’s first phase, Byron, read through the thread below:

https://twitter.com/InputOutputHK/status/1592194057131806720?s=20&t=9rSO3qDfHpZ7hTXppSedeQ

🧵 8/n