- Cardano’s Shelley Testnet surpasses stake pool initial target
- Cardano price analysis – ADA declines to yearly low
After the successful launch of Cardano’s Shelley testnet, the testnet records over 500 staking pools, which makes Cardano’s ADA a token to look-out for in 2020. The testnet went live on December 13, and so far the testnet is doing exceptionally well surpassing the primary target of 100 pools. This is a major foot for decentralizing the network.
Cardano (ADA) Price Today – ADA / USD
The Cardano roadmap states: “Shelley will set the stage for a fully distributed network, and an entirely new application ecosystem with even greater things to come in the Goguen, Basho, and Voltaire eras.”
The ADA community members are offered rewards in exchange for giving their ADA tokens to nodes termed “stake pools.” People willing to control these pools can receive much higher profits. According to the company’s projection, the network is expected to attain about 1,000 stake pools by the end of the new era. With the staking pools already at 509, the target is attainable.
Cardano Price Analysis – ADA Declines to Yearly Low
Currently, ADA is up at 2.92% over the past 24 hours, ranking 13 by market cap. Its market cap is at $887.63M with a 24-hour volume of $23.42M. Regardless of the development and growth surrounding Cardano this year, its native token ADA has declined to levels last seen in December 2018 when Bitcoin price decline to $3,000.
ADA price has attained a low at $0.03, hitting the lowest point in over a year. Sadly, with Cardano’s strong tech and professional developer activity, it does not have a commercial app. Over the past 12 months, Cardano has constantly had a high number of GitHub commits at 14,611. That is higher than most major cryptocurrencies like Stellar and Ethereum.
Commenting on the Shelley testnet launch, Cardano founder stated: “Very happy about the launch. Lots of minor issues and intermittent bugs reported. We will cut a new release with updates to Jormungandr, the wallet backend on December 23rd to sweep up these issues. Merry Christmas.”
In 2020, it is projected that Cardano will experience a new development phase term, Voltaire. This new phase will focus on the authority aspect of the Cardano blockchain network to increase its level of decentralization. According to the Cardano roadmap which states:
“When both a voting and treasury system is in place, Cardano will be truly decentralized and no longer under IOHK’s management. Instead, Cardano’s future will be in the hands of the community, who will have everything they need to grow and evolve Cardano from the secure, decentralized basis established by IOHK.”