Shelley Phase Definition
The Shelley phase is a significant stage in the development of the Cardano blockchain, focusing on decentralization. Named after English poet Percy Bysshe Shelley, this phase is designed to ensure that the Cardano network becomes fully decentralized and autonomous, with the power to validate transactions and blocks distributed among the network’s participants.
Shelley Phase Key Points
- The Shelley phase is the second stage in the development of the Cardano blockchain, following the Byron phase.
- The primary goal of the Shelley phase is to achieve full network decentralization.
- During the Shelley phase, the responsibility for validating transactions and blocks is transferred from a centralized entity to the network participants.
- The Shelley phase also introduces staking and delegation to the Cardano network.
What is the Shelley Phase?
The Shelley phase is a critical stage in the development of the Cardano blockchain. It follows the Byron phase and precedes the Goguen phase. The Shelley phase is primarily focused on decentralization, with the goal of making the network more secure, scalable, and sustainable.
Why is the Shelley Phase Important?
The Shelley phase is important because it marks the transition of the Cardano network from a centralized to a decentralized system. This means that instead of a single entity controlling the network, the power is distributed among the network’s participants. This decentralization increases the network’s security and resilience against attacks.
When did the Shelley Phase Happen?
The Shelley phase of the Cardano blockchain was launched in July 2020. This followed the successful completion of the Byron phase, which focused on the establishment of the Cardano network and its basic functionality.
Who is Involved in the Shelley Phase?
The Shelley phase involves all participants in the Cardano network. This includes developers, node operators, and ADA holders. Developers are responsible for implementing the necessary changes to the network’s codebase, while node operators and ADA holders participate in the network’s staking and delegation process.
Where does the Shelley Phase Apply?
The Shelley phase applies to the Cardano blockchain network. This means that all transactions and blocks on the Cardano network are validated through the decentralized process introduced during the Shelley phase.
How does the Shelley Phase Work?
The Shelley phase works by introducing a new consensus protocol to the Cardano network, known as Ouroboros Praos. This protocol allows network participants to become validators and earn rewards by staking their ADA tokens. Validators are chosen randomly to create new blocks and validate transactions. The Shelley phase also introduces delegation, where ADA holders can delegate their staking power to other validators.
