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Cardano (ADA) Releases First Major Update to Daedalus in Shelley Era. Why It's Crucial for ITN Participants?

Input Output software developers, have announced that the first major update for Daedalus Cardano (ADA) wallet is delievered

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The Input Output software development company, which has been tasked with the development of the Cardano (ADA) blockchain, has officially announced the first major upgrade for the Daedalus Wallet since the activation of the Shelley hard fork. It is of particular importance for the Incentivized Testnet (ITN) participants.

First Major Daedalus Upgrade in Shelley Era

The Input Output team unveiled their new version of the Cardano (ADA) native wallet, Daedalus, v2.1.0, which is powered by two features - the Incentivized Testnet rewards redemption and spendable rewards.

OUT NOW: Daedalus 2.1.0 is the first major update to the #Daedalus wallet and introduces two new features: ITN rewards redemption, and spendable rewards @Cardano 1/3 pic.twitter.com/zD1aWUHfp5

— Input Output (@InputOutputHK) August 7, 2020

This means that the “Redeem Incentivized Testnet rewards” will allow stakers to redeem the rewards they've earned for sandbox staking in the ITN testnet epoch. An ADA holder needs to know the wallet recovery phrase and have sufficient funds to cover the transactional fees.

In the new release, rewards are also included in wallets and are spendable once transactions occur. The Input Output team outlines that the only legitimate version of Daedalus can be downloaded from the official website.

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Charles Hoskinson, CEO and Co-Founder of Input Output company, has invited all Cardano (ADA) holders to update their software:

Make sure to upgrade. ITN rewards can now be redeemed

First Days of Shelley Raises Heated Debates

The Shelley hard fork of the Cardano (ADA) blockchain indicated the switch to an unmatched level of decentralization for the system. Mr. Hoskinson claimed that it is the only proper proof-of-stake consensus in existence:

Today, we showed everybody how to do proof-of-stake right.

However, not everyone in blockchain community was happy about this much-anticipated release. The CTO of the Block.one team, which was tasked with the development of an EOS.IO open-source software, accused Cardano's Shelley of delusional decentralization and copying EOS.IO's consensus design.

👉 MUST READ Block.one CTO Daniel Larimer Calls Cardano’s Shelley “Illusion of Decentralization”related article image

Legendary cypherpunk Adam Back, CEO of the Blockstream development studio that works on Bitcoin (BTC) solutions, compared Cardano (ADA) and Ethereum (ETH) to the most infamous scams in crypto history, BitConect and OneCoin, as well to Bernie Madoff's monstrous Ponzi schemes.

Mr. Hoskinson dismissed all of these accusations, highlighting the advantages of Shelley over its competitors.

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Vladislav Sopov

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)