I know, I know, you have a busy life. You’ve been running all day, doing this and that, it’s hard to keep track of current events because there’s just too many of them.
I have some good news for you: Shelley just launched!
What’s Shelley you ask? It’s the best thing since sliced bread.
Joking aside, the launch of Shelly is the most important milestone in creating the world’s most descentralized cryptocurrency.
With Goguen and Voltaire just around the corner, let’s see what this means for you.
Grab the latest Daedalus installer from https://daedaluswallet.io/en/download/
After you install it you should get some coffee and start binge watching Dark because the initial sync is going to take a while. The part where you find out that ****** ** Jonas’ ****** which implies that ****** ** *** **** is a bit mind blowing. Also, Daedalus should be synced up and ready to go by now.
The next step is to pause Dark and restore your Byron wallet. Afterwards, you’ll need to create a new Shelley wallet and transfer your funds.
Here’s a video to help you out:
If your ADA is on an exchange, you might have to wait a bit. Here’s the current status for the most popular exchanges:
Also, you shouldn’t keep your cryptos on exchanges. Remember: NOT YOUR KEYS, NOT YOUR CRYPTO!
Back to Daedalus, here comes the most important part. You’ll want to stake your ADA. Why? Because you’ll get rewards — about 5% per year. Actual rewards will vary based on the stake pool’s performance.
Right now Shelly is riding with training wheels, but don’t worry, it will become independent in no time. This means that in the beginning most blocks will be created by federated nodes. The percentage of blocks created by stake pools will slowly increase epoch by epoch as the network is monitored by IOHK, until it reaches full decentralization, probably around October. Because the pools will be mintin...