Cardano: Hokinson outlines the next objectives for the Shelley era

  • The next steps for Cardano’s Shelley era are the implementation of “one-to-many” delegation, delegation portfolios, Smash, KES proxy keys, multisig pledging and a delegation function for exchanges.
  • Charles Hoskinson has approved an additional budget of $600,000 to accelerate the development of Cardano’s next phase “Voltaire”.

In a new video Charles Hoskinson gave a new update on Cardano‘s Shelley era a few hours ago. According to the IOHK CEO, the developments for Goguen, Basho and Voltaire run parallel to the further development of Shelley. As already announced in previous videos, the development of the “one-to-many” delegation is still a high priority, which will allow delegating ADA to several stake pools with only one single wallet. As a result, there will also be delegation portfolios.

Another feature that is currently being developed is “Smash”. First, this is a concept of how metadata for the stake pools will be handled. But as Hoskinson also pointed out, the concept could be “user driven” in the future, so Daedalus wallet users could choose a Smash server that is parameterized by different users. Initially there will be a server parameterized by IOHK, later Daedalus users will be able to parameterize a server together.

Also, an important topic, according to Hoskinson, is the presentation of the stake pools in the Daedalus wallet. Still in January it should be possible to sort and rank the pools by different categories or parameters. In addition, IOHK also aims to sort stake pool portfolios by different parameters, when released.

Furthermore, IOHK is currently working on a concept called “KES Proxy Keys” for the two leading hardware wallets of Trezor and Ledger. This feature is intended to significantly increase the security of stake pool operators by not exposing the private keys to the Internet under any circumstances. The implementation is done in a way that stake pool operators have two environments, a “hot” environment where the server runs and a “cold” environment where the private keys are stored. According to Hoskinson, this concept offers the following advantage:

All the things that give the pool the right to make stuff, should live in the cold side. And what the cold side will do is, it will create some transaction that will give the hot side the right to operate on behalf of the cold side. So this is kind of the best of both worlds because you can optimize the hot side for cost and have a really nice environment, but when this environment ever gets compromised what you can do is, you can generate transactions to a new hot environment.

As well important in terms of further decentralization is, according to Hoskinson, the development of “multisig pledging”. This means that small stake pools can merge with their capital in a trustworthy manner in order to be competitive with larger pools. In addition, Hoskinson recently spoke with Binance and other exchanges to enable exchange users to delegate ADA.

However, as the inventor of Cardano stated with regard to all technologies, the tasks are a workload that goes beyond the month of January. Referring to Cardano’s next phase, Voltaire, IOHK’s CEO said that there is an “enormous amount” of work ahead, which is why he yesterday released an additional budget of $600,000 to accelerate Voltaire’s development.

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About Author

Jake Simmons

Jake Simmons has been a crypto enthusiast since 2016, and since hearing about Bitcoin and blockchain technology, he's been involved with the subject every day. Beyond cryptocurrencies, Jake studied computer science and worked for 2 years for a startup in the blockchain sector. At CNF he is responsible for technical issues. His goal is to make the world aware of cryptocurrencies in a simple and understandable way.

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