Cardano is seen by many enthusiasts as the next leading cryptocurrency blockchain
The price of Cardano (ADA) has been rising for the past two months, as stakeholders await the launch of the Shelley mainnet. This update will mark Cardano’s biggest launch as its ecosystem migrates to a complete, open source and decentralized network, where anyone can participate.
Last week, Cardano founder Charles Hoskinson pointed out that the launch is in progress and is scheduled for June 30 to July 7; the update will be available to everyone from June 9th.
“June 9th is when it opens to everyone. The next date we have for you is June 16, is when we start to put things together from end to end. ”
A boost to the price of Cardano (ADA)?
Following confirmation by Hoskinson on May 28, the ADA price has gained over 20% in the past three days, trading at $ 0.079, according to current Nomics statistics.
Chart by: TradingView
Notably, the currency also regained its position as one of the top 10 in market value after reaching the $ 2.4 billion mark; it moved to Tezos, which held the fort as the 10th cryptocurrency in the capitalization. In a recent tweet, Hoskinson celebrated this milestone:
“It’s good to be back in the top ten”
While it is too early to say whether the ADA will maintain this position, rmainnet Shelley has proven to be a key factor behind the price hike. This update has been in progress for over 2 years, with its pioneering testnet being launched in April. The IOHK community led by Hoskinson is optimistic that the ‘complete’ solution to the decentralization problem will position Cardano as the blockchain network to be used over time. Since then, Hoskinson has echoed:
“The functionality of the Shelley era will provide true decentralization through its advanced Ouroboros consensus algorithm and scientifically researched incentive scheme.”
Source: BTC EG