Cardano (ADA) just released an update on the Shelley project. Liz Bancroft. The Product Manager of IOHK offers the update on Shelley for June on the IOHC YouTube channel.
She’s also updating us with the current project that the team is working on and offers more insight regarding Shelley’s main goals.
Shelley’s main features and targets
The primary goal of Shelley release is to upgrade the network to operate in a decentralized way. The project includes there main features: incentives, delegation, and networking.
It’s important to note that the incentives offer stakeholders monetary incentives that follow the protocol and make sure that the system runs flawlessly.
The delegation allows stakeholders to delegate the right/obligation to sign blocks to third-parties. Networking offers the network the proper infrastructure to support decentralization.
Regarding the delegation design document, the IOHK team has been working on detailing how the scheme proposed in the paper could be included in Cardano.
They have to make sure that the delegation design is compatible with the envisioned incentives mechanisms.
The team also addressed the way of sharing rewards with users delegating to pools without the risk of flooding the system with transactions and creating a lot of dust in the UTXO.
Incentives research paper
In the design documents, after having settled on the general shape of the incentives mechanisms, the research crew spent the last month fine-tuning, verifying and refining it.
“So, in our example, it would be bad if there would a Nash equilibria with bad properties for example, with less than K-pools or pools of an equal size and so the fact that we proved that there are no bad equilibria means that hopefully in practice we will indeed end up with K pool of equal size. So that was the main achievement on the research side,” Liz Bancroft said.
Networking Delta key measurements design
The team managed to find various real-world use cases and they will investigate them as examples during the process of implementation and testing.
You can watch the YouTube video to find out more about the updates.