Main navigation

Bitrue Is First Exchange to Support Cardano’s Shelley Hard Fork

News
Tue, 07/28/2020 - 13:17
article image
Yuri Molchan
Bitrue exchange has announced that it will be the first platform that is prepared to provide support for the approaching Cardano Shelley crucial upgrade
Bitrue Is First Exchange to Support Cardano’s Shelley Hard Fork
Cover image via stock.adobe.com
Read U.TODAY on
Google News
Contents

The Bitrue team has published an article on its blog, saying that the crypto exchange is prepared to integrate support for the Cardano hard fork scheduled for July 29 and will be the first platform to support Shelley.

ADA
Image via Twitter

Bitrue to offer users 7% APR on their ADA

As was detailed in the article, Bitrue will be among the first platforms to support the Shelley upgrade for Cardanolong expected by its users.

This will enable Bitrue to offer its customers seven percent APR (annual percentage rate) in 30-day lockup plans soon enoughfrom mid-August.

Cardano will implement staking after the Shelley launch, according to its roadmap. However, the exchange is already able to offer its customers to stake their ADA at a smaller APR via its own programs.

On Wednesday, July 29, at 12:30 p.m. UTC, when the Cardano upgrade begins to activate, Bitrue will suspend all ADA withdrawals and deposits by its customers.

Related
Cardano Launches Countdown to Conducting Shelley Upgrade Early Next Week

Cardano (ADA) to become completely decentralized

According to a video posted by Cardano’s founder, Charles Hoskinson, on YouTube over the weekend, the upcoming Shelley upgrade is going to make this platform completely decentralized by allowing a lot of operators to govern and maintain the network.

It means that nobody will be able to manipulate or control Cardano and its native currency, ADA. The upgrade will also allow for the emergence of ADA staking pools.

Besides, Hoskinson stated that after the hard fork on Cardano, native assets, smart contracts and other interesting projects will appear based on it.

He also said that after Shelley is implemented and all of these innovations appear on Cardano, it will become the best crypto in the industry.

article image
About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.