IOHK shared the redesigned roadmap for Cardano after scrapping the old one. The new roadmap details their vision for Cardano from 2019 through 2021. Charles Hoskinson detailed the reasons that went into the new roadmap in “The Cardano Effect” Podcast on June 9.
Hoskinson said that roadmap was “the reflection of the philosophy of how something is built” and that the old roadmap was based on percentages and quarters and that once they started building things based on the old roadmap they discovered that things weren’t as simple as they thought they would be.
According to Hoskinson, the old roadmap compared to the project/product management, the actual product delivery process had tuned out of sync with each other. This led to them breaking down the roadmap into steps that could be achieved step-by-step; Byron was the first step in this direction, which is followed by Shelly, Goguen, Basho, and Voltaire.
He further mentioned that Byron was the first step where they built applications and APIs to make sure that they could get on exchanges, third-party apps, etc. This was followed by Shelly, which concentrated on the “decentralization” aspect of Cardano and defining what decentralization means to them. And each ear, be it Byron or Shelly needs to have a demarcation that explains what was accomplished in that particular phase, said Hoskinson.
“So the way that we try to structure this roadmap is to know that these are not necessarily linear, where you do one and you go to the next one in the next one. These things kind of sit on top of each other and they stagger. So you know Byron is nearly done and we’re kind of leaving
that eros so that’s closed out but Shelley is going to keep going because the goal there’s decentralization…”
He said that this roadmap was structured considering the end, where they would need to handover this ecosystem to the Federation of actors and to every single person that cared.
Cardano’s Shelly TestNet Is A Handover, ADA Adds 7.3%
- Cardano (ADA) is up 7.3 percent
- The path towards complete decentralization continues through Shelly TestNet
Shelly TestNet is live. To the end, Charles Hoskinson is in Israel as he waits for feedback from the country’s developers. Meanwhile, ADA is consolidating along 9.5 cents following June 26 doji candlestick.
Cardano Price Analysis
Charles Hoskinson is a technical leader, passionate about crypto. After parting ways with Ethereum following the contentious and implicating DAO, he continues to head Ethereum Classic development.
Overly, he is generally thorough, guiding Cardano’s IOHK in matters quality. As a smart contracting platform prioritizing quality and peer reviewing over speed and compromise, their five-step development through to Voltaire will produce a verified, peer-reviewed platform which is scalable and completely decentralized.
It may take some few years before Voltaire. However, the release of Shelly TestNet, the path towards the ultimate goal is being fast-tracked. Because of Shelly, there will be decentralization. That is precisely why the blockchain community has its interest in the project.
The TestNet which is live, launched on June 21, allows experimentation on Staking. Besides staking, this TestNet prepares the network for the final transition of transaction validation from IOHk to the community’s staking pools.
Testing will be in three phases. The first stage enables users to create a Rust Self Node while simultaneously establishing the basic configuration of staking pools. After that, all these Rust Self Nodes will connect into one “unified TestNet” before incentive building and delegation in the third stage.
Trading at 9 cents, ADA is bullish and 7.3 percent higher from last week’s close. Despite the slowdown in the previous day, the path of least resistance is up. In an altcoin season, ADA is likely to attract capital, especially if this TestNet reveals the real power of Cardano.
Because ADA is within a bullish breakout pattern against the USD, every low is technically a loading point. However, while there is an opportunity for aggressive traders, it is imperative that prices edge past May 2019 resistance at 9.5 cents.
There were attempts on June 26, but the resulting doji points to indecision. ADA prices could print lower. On the other hand, any firm close above 9.5 cents, preferably with high trade participation could trigger ecstatic buys as traders aim at 12 cents. Such a move will confirm the bull breakout pattern of late March.
As the trend line shows, the dominant trend is up. Although there is consolidation, trading volumes are high. In that case, break and close above 9.5 cents, validating this trade plan should ideally be with high participation exceeding 603 million of June 26.
Cardano (ADA) Price Gaining Momentum: Dips Remain Supported
- ADA price traded higher and was successful in clearing the $0.0935 resistance against the US Dollar.
- The price is currently trading well above the $0.0950 level and it could continue to rise in the near term.
- There is a major bullish trend line forming with support near $0.0965 on the 4-hours chart (data feed via Kraken).
- The price is likely to accelerate higher once it clears the $0.1020 resistance level.
Cardano price is gaining bullish momentum above $0.0950 against the US Dollar, but struggling vs bitcoin. ADA could continue to rise if it clears the $0.1000 and $0.1020 levels.
Cardano Price Analysis
After forming a strong support above $0.0850, cardano price started an upward move against the US Dollar. The ADA/USD pair broke the $0.0920 resistance levels to enter a positive zone. Later, it even cleared the $0.0935 resistance and settled above the 55 simple moving average (4-hours). Finally, the price traded above the key $0.1000 resistance and traded towards $0.1020.
However, the $0.1020 level acted as a strong resistance and prevented gains on two occasions. The recent high was formed at $0.10209 and the price corrected below the $0.1000 support. It broke the 50% Fibonacci retracement level of the last wave from the $0.0934 low to $0.1020 high. However, the decline was limited and the price found support near the $0.0965 level.
The 61.8% Fibonacci retracement level of the last wave from the $0.0934 low to $0.1020 high also acted as a support. Moreover, there is a major bullish trend line forming with support near $0.0965 on the 4-hours chart. If there is a downside break below the trend line, the price could test the $0.0935 support area. The 55 simple moving average (4-hours) is also a major support near the $0.0930 level.
On the upside, an immediate resistance is near the 0.1000 level. However, the main resistance is near the $0.1020 level. If there is an upside break above the $0.1020 level, the price may continue to rise towards the $0.1050 and $0.1080 levels. The next key resistance is near the $0.1120 level.
The chart indicates that ADA price is currently trading nicely above the $0.0965 and $0.0935 support levels. If the bulls fail to push the price above $0.1020, there is a risk of a fresh decline below $0.0935. The next major support could be near the $0.0920 level, followed by $0.0905.
4 hours MACD – The MACD for ADA/USD is currently losing momentum in the bullish zone.
4 hours RSI – The RSI for ADA/USD is currently correcting lower from 65 and it could test the 50 level.
Key Support Levels – $0.0965 and $0.0935.
Key Resistance Levels – $0.1000 and $0.1020.
Shelley Testnet launch marks the recent developments of Cardano
Shelley Testnet launch marks the recent developments of Cardano
In the wake of recent developments, stability has been observed among the majority of the altcoin. The Cardano Shelley testnet is being viewed as a major achievement in Cardano’s development. Moreover, there has been a steady climb of ADA from $0.8 to $0.1.The much-awaited Shelley testnet by the Cardano community, could be the reason for spiked interest in the ADA, along with the altcoin stability in the last twenty-four-hour window.
Shelley marks the beginning of a Proof-of-Stake Consensus protocol and a step in the direction of absolute decentralization for the network of Cardano. Moreover, the users will be enabled to test the out staking and allocation of roles taking to stake the pools and provide the required feedback to the Cardano team for the preparation of the wider phase of Shelley. As the phases of Shelley will progress, the users will be enabled to experience faster synchronization of the network, Cardano debit cards, alterations to wallet backend, quantum resistant signatures and light client support.
Shelley is being viewed as one of the most important events in Cardano’s history. With the inclusion of Shelley, the Cardano community is getting ready to take charge of the blockchain via staking. However, the community can take full control only when there is sufficient stake from community members, and there are a certain number of nodes.