Cardano releases new version Daedalus node, taking another step closer to mainnet staking

Last week, IOHK released the long-awaited v1.0.0 of the Daedalus mainnet wallet and full node for Cardano, bringing Daedalus into the “Byron Reboot Era.” Cardano is in the midst of a major network overhaul as it transitions from a federated network (called Byron) to a Proof of Stake (PoS) blockchain (Shelley). The Byron Reboot era represents a series of network upgrades, such as the new Daedalus version, to help facilitate the switch.

Source: Cardano Forum

As for the specifics of the release, Daedalus v1.0.0 reportedly drops sync times from nine or more hours down to around one. It allows users to manage multiple public-private key pairs and comes with a new user interface.

Why it matters:

• Cardano and IOHK have taken a methodical, research-first approach to the network’s development. Shelley will be the first significant chain upgrade since Cardano’s mainnet launch back in Sep. 2017 and will finally allow ADA holders to start staking their assets. But this lengthy timeline between releases allowed other smart contract platforms, namely Tezos, to make some headway in terms of adoption. Despite the delay, Cardano has a passionate community of supporters who must be dedicated as ADA is down ~97% since its all-time high.
• Investors and users should note that Shelley is only the second era of Cardano’s five-stage rollout. Shelley introduces staking with the hope of decentralizing network node operators, but it does not include smart contracts. Prospective Cardano users will have to wait for the Goguen era for smart contract functionality. IOHK and Cardano’s other development teams have worked on Goguen in parallel with Shelley, but there is no precise timeline for its release at the moment.