Cardano News Today – Cardano Implements the Shelley Code on the Mainnet – July 1st, 2020

  • Cardano Takes the First Step Into the Decentralized Era as it Uploads the Shelley Code 
  • Backup Date for the Code Upgrade is July 7th, 2020
  • Cardano ADA is Bullish Against the USD as it Tastes Complete Decentralization

Cardano News Today – After months of rigorous development, the Cardano Shelley code will be added to the network today making the first step into the decentralized era after months of anticipation. The network has been transitioning into this era slowly for the last few months. All these upgrades have taken the network from a static federated blockchain to a fully decentralized blockchain. This dynamic decentralized blockchain is going to go live today. However, if things don’t go as planned today, they have set July 7th as the backup date for upgrading the code.

Cardano News Today – Cardano Shelley Finally Will Finally go Live and the ADA Token is Trading in Green

During an interview with Decrypt, Juan Villaverde, the top short at Weiss Ratings said that the Cardano Shelley mainnet launch will finally prove if the Cardano technology can achieve true decentralization and scalability as promised by the Cardano development team. Cardano has already made significant progress across industries. Unlike many other blockchains that are focused primarily on the financial sector, the Cardano blockchain can be implemented in different industries.

Cardano (ADA) Price Today – ADA / USD

NamePrice
cardano
Cardano
$0.144

So far, the blockchain has already made a lot of progress in the supply chain and decentralized finance sectors. Charles Hoskinson said that they can’t wait for when the hard fork ends at the end of July when it culminates the mainnet. However, he acknowledged that it’s been difficult for them to revamp the entire blockchain but they will still be working on the blockchain after that.

On the 9th of June, the Cardano Shelley testnet was launched and stake pool operators started testing the network to get used to the new architecture. A few days later, on the 16th of June, the Daedalus Shelley Test wallet was launched. After the Shelley code is added to the mainnet today, Cardano ADA holders will be able to transfer their funds to the upgraded Shelley wallet. Aparna Jue, one of the lead developers said;

“We’re still on target for that 30 June date, as of now. Right now, the team is very positive about this.”

Meanwhile, the price of Cardano ADA has been making progress over the last few days. Even when the rest of the market was bearish, the Cardano ADA token was recording gains. The price is currently $0.083813. It is up by 0.82% against the USD and up by 0.81% against Bitcoin BTC. The trading volume over a 24 hour period is $181,527,028 and the market capitalization is $2,173,016,652.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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