Cardano’s two famous systems, Byron and Shelley, were created to optimize decentralization and support the Caradno blockchain. After version 3.2.0, the ELLIPAL wallet is now able to support both the Byron and Shelley systems, giving Cardano holders great options on how to hold their ADA. Let’s get more familiar and understand what the main differences between Byron and Shelley are.
What is Cardano Byron?
Byron was first introduced in 2017 after 2 years of development, it is the first step of the Cardano blockchain. It’s purpose was to address the three strategic challenges facing all blockchain networks: scalability, interoperability, and sustainability. It allowed users to buy and sell the ADA cryptocurrency on a federated network running the groundbreaking Ouroboros consensus protocol. The heart of the Cardano network, Ouroboros is the first proof-of-stake protocol created on the basis of academic research, with a mathematically-proven level of security. The Byron era also saw the creation of the Daedalus wallet and Yoroi wallet which are IOHK’s official wallets.
For Cardano the creation of Byron was about the first crucial technology developments. However, it was also about building a community and getting people involved in Cardano. Now, 4 years after Byron launched, it is safe to say that Cardano Byron has achieved what it sets out to do.
What is Cardano Shelley?
Following on from the Byron era, Cardano Shelley represents the period of growth and development for the network. The transition from Byron to Shelley is designed to achieve a smooth, low-risk transition without service interruptions.
The Shelley era focuses on Cardano’s journey to optimize decentralization. During the Byron era, the network was federated, but as the Shelley era progresses more and more nodes will shift towards being run by the Cardano community. Once the majority of nodes are run by network participants, Cardano will be more decentralized and enjoy greater security and robustness.
Shelley also see the introduction of a delegation and incentives scheme, we all know this as ADA Staking. The delegation and incentive scheme will allow and encourage users to delegate their stake to stake pools – always-on, community-run network nodes – and be rewarded for honest participation in the network.
For old holders of Cardano since the Byron era, it is important that you transfer your ADA to a Shelley account in order to participate in ADA Staking!
How to send ADA from BYRON address to Shelley address and start staking：
Update ELLIPAL wallet and App to 3.2.0 using this guide：
https://www.ellipal.com/pages/ellipal-update
- After updating you should be able to see ADA (Shelley) on your ELLIPAL Titan wallet’s account.
- Use the ELLIPAL App to scan the new Shelley account’s QR code (follow the usual “connect to App” procedure)
- Transfer your ADA from the Byron address to the new Shelley address. Do this by transacting normally.
- Once finished, you can now go to ELLIPAL App’s finance tab and stake ADA!