Cardano Is Transitioning To a More Community-Run Decentralized Network

cardano ada price

Almost every crypto project in the crypto space is working towards decentralization. However, many of them are still centralized, which means they are controlled by one or two entities. What digital asset investors want are decentralized projects, not the ones that are under the full control of others. While some crypto projects are known to be decentralized, others are still working towards decentralization.

Over the years, one crypto project that has put in so much effort towards decentralization is Cardano. The team behind the project has been doing all it can to lift the centralized nature of the project. Recently, some leaked photos from the Cardano Github revealed that the crypto project is making a huge step towards decentralization.

Cardano Is Moving to Decentralized Nodes – Cryptocurrency News Today – Cryptocurrency Market Update

Cardano is a third-generation blockchain network that focuses on peer review and research. Back in September 2017, Byron era – the first Cardano development phase – was launched. The project launched Byron to tackle the fundamental needs of the network such as ADA wallets. Bootstrap era is another development that coincided with Byron. Bootstrap era is where a set of trusted nodes maintain the network. IOHK orchestrated these nodes. IOHK is a tech startup that was founded by Charles Hoskinson.

After that, the next development that followed is Shelley era. This development marked the move towards a more decentralized community-run network. This development saw the transition of the network from Bootstrap to Reward era, allowing ADA holders to stake their tokens to earn rewards amongst the nodes of the decentralized community.

A snippet of the Cardano (ADA) roadmap states:

“Once the majority of nodes are run by network participants, Cardano will be more decentralized and enjoy greater security and robustness as a result.”

After the Shelley upgrade, the creator of Cardano (ADA) expects the Proof of Work system to be 100 times more decentralized than Bitcoin.

Cardano Is Ahead of Schedule, Very Close to Decentralization – Cryptocurrency Market Update – Cardano News Today

Recently leaked images from the Github page of Cardano revealed that the development of the crypto project is ahead of schedule. Images from Daedalus wallet GitHub – Cardano (ADA)’s primary wallet – showed a countdown to decentralization finishing in about two months. The Shelley era will be completed by the end of next year. If the countdown is correct, then it means that the development is well ahead of schedule. If this is true, then the price of Cardano would greatly benefit from this bullish Cardano news today.

Cardano Price Analysis – Cardano Price Prediction 2019 – Cardano News Today – Cryptocurrency News Today

The digital currency market is currently on a downward plunge and the price of Cardano is also affected. Cardano was fighting with Tron (TRX) for the tenth position on the list of top digital currencies in the market. At the press time, both Tron (TRX) and Cardano have lost that position to Stellar Lumens, and Cardano is currently holding the 12th position on the list.

ADA USD price is currently supported at the $0.0540 mark. On the upside, the immediate resistance of the coin is at the $0.0560 mark.

Cardano (ADA) Price Today – ADA / USD

NamePrice
cardano
Cardano
$0.0440.996%

ADA USD live price is $0.055941 after a decrease of about three percent over the past twenty-four hours. The current market cap of the digital currency is $1.45 billion. The trading volume of the digital currency over the past day is $52 million.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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