Cardano News Today – Staking Pools on the Cardano Blockchain Reach 700 One Week After Shelley’s Launch – August 5th, 2020

  • Seven Days After the Successful Shelley Hardfork, 700 Staking Pools Have Registered on the Network 
  • Cardano ADA Starts Gaining Momentum After Extended Correction, Moves to the $0.1400 Level 

Cardano News Today – It’s been about one week since the Cardano Shelley hardfork was completed successfully. Within this short time, more than 700 new staking pools have joined the blockchain. According to the latest report from the development team, about 731 staking pools have joined the Cardano blockchain and more pools are registering daily. Later today, IOHK will release the epoch 0 update report and it will come with more data about Shelley’s metrics and network activity since the hardfork. Everything appears to be going as planned and there hasn’t been any reason to believe that the Shelley hardfork has been unsuccessful.

Cardano News Today – Cardano Shelley Hardfork was a Blast, More Progress on the Way

The Cardano development team promised to release regular updates with fixes and features on the Shelley code in the weeks to come. They have also encouraged all Cardano ADA holders to keep their wallets updated if they don’t want to lose their tokens or run into any problems with Shelley. Thanks to Shelley, pool ranking on the Cardano blockchain has improved significantly along with its overall performance. Yesterday, the Daedalus 2.0.1 wallet went live at the same time as many upgrades on the network. IOHK posted;

“OUT NOW: Our first maintenance update to our new #Shelley wallet brings full stake pool listings to #Daedalus, along with several small but important improvements. Download Daedalus 2.0.1 today!”

Cardano (ADA) Price Today – ADA / USD

NamePrice
cardano
Cardano
$1.21

While the Daedalus 2.0.1 is a good upgrade, it isn’t compatible with the Shelley incentivized testnet rewards redemption. Hopefully, Wallet redemption will be possible following the upcoming Daedalus update. All these moves are part of the migration to a truly decentralized network and a delegated proof-of-stake consensus design. Hoskinson has said that every Cardano update is meant to bring the blockchain closer to a decentralized era. It is not like Ethereum or Bitcoin that can be controlled by a group of miners when they have control of over 51% of the network.

Cardano ADA Starts Gaining Momentum After Extended Correction, Moves to the $0.1400 Level

In other news, the Cardano ADA token has started gaining momentum against the USD and Bitcoin. Following the recent price correction that kept the token in the $0.1300 level for days, things are looking up and the token is moving higher. At the time of writing, the price of Cardano ADA was $0.142650. It was up by 2.26% against the USD and down by 1.50% against Bitcoin BTC. The trading volume over 24 hours was $371,122,089 and the market capitalization was $3,698,506,937.

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