After the launch of the incentivized testnet, the IOHK and the Cardano ecosystem has been ramping up its tech and is currently focused on network and stability improvements.
In line with this, the CEO of IOHK, Charles Hoskinson revealed that the Rust team is all set to deliver a network patch for the ITN in the upcoming week. Following this, the team will continue to release regular patches to maintain network stability.
Among other things, Hoskinson revealed that the team was considering the usage of saturation metric while collecting feedback and data about how the pools are being operated by the users and if the designed protocol would, in fact, help the foundation achieve decentralized and a stable network. In the latest AMA session, the exec updated,
“We have been able to collect an enormous amount of data about the use and misuse of the protocol. we’re now
In an event where someone in the network behaves maliciously, Hoskinson further revealed that it would be very simple for the developers to install “punitive measures” with the pledging mechanism.
The concept of pledging, deployed in incentivized testnet, is essentially where the stake pool operators delegate their personal stake to their pool and register a pledge address when they register the stake pool with the Foundation. Prior to the launch of the Shelley mainnet, the foundation is analyzing ways to how the protocol would evolve.
Earlier the Cardano Forum had revealed that alongside Shelley mainnet, the Haskell Shelly testnet will be launched soon.
News and Top Headline for Cardano ADA, January 18th, 2020
- Cardano releases the Jormungandr 0.8.6 version for Cardano pool operators
- Cardano ADA Price Analysis – fluctuating price trend
Cardano’s Ambassador, Rick McCracken recently announced that IOHK, the research and development wing of the decentralized public blockchain and crypto project, Cardano released the Jormungandr 0.8.6 version for Cardano pool operators. The recently released version is targeted at enhancing the network durability of the node. The release of Jormungandr 0.8.6 comes alongside numerous optimizations. IOHK quoted modifications in terms of code quality in the network code and the storage.
Also, the service manager, which is the module that trails all the tasks running in the node, has been improved following the Jormungandr’s shift to the 0.8.6 version. IOHK’s official statement goes thus:
“This release does not provide a quick solution to some of the issues reported by the community such as the clone stake pools problem. This is an issue linked to the incentive model and the issues of the network. Improving the network has a higher priority right now.”
With the execution of version 0.8.6, CandidateForest has been removed, an update has been transmitted for chain-deps, for rand and network API changes. Moreover, the TCP server connection manager, which denies incoming connections when full, has been enforced.
Previously, it was reported that the Cardano ecosystem has been concentrated on network and durability enhancement. To aid the sustainability of network duration, Cardano Foundation’s Rust team is prepared to provide a network patch for the ITN this month.
Similarly, the CEO and Co-founder of IOHK, Charles Hoskinson had also disclosed that the blockchain engineering firm plans to bring in “oracle providers and data providers” to the Cardano blockchain for it to have a “competitive offering”.
Cardano ADA Price Analysis – Fluctuating Price Trend
In the last 24 hours, Cardano ADA’s price has been trading positively. ADA price has broken the 30-days high twice in the space of seven days. The 90-days high is at $0.0466, while the 30-days high is currently at $0.0430. The forthcoming days are projected to be thriving. Today, ADA coin started the day with a slight price plunge. The price trend shifted from $0.0417 to $0.0411 by 1.51%. The price increased to $0.0439 by a massive surge of 6.97%. Also, the Cardano ADA price declined to $0.0425 by 3.32%.
Cardano (ADA) Price Today – ADA / USD
The coin price plunged to $0.0439 and broke the instant resistance level at $0.0429. Currently, ADA coin has indicated a price decline. Also, it is relatively close to the instant resistance level. Hence, the prospect of modification is still unscathed. The ADA coin is projected to give a profit to long-term investors.
News Today – Top Headline for Cardano ADA
- Cardano developers to provide patches for incentive testnet for the launch of Shelley
- Cardano ADA is decentralized
After the launch of the incentivized testnet, the IOHK and the Cardano ecosystem has been developing its tech. Currently, they are focused on network and stability enhancements. In the same light, the CEO of IOHK, Charles Hoskinson declared that the Rust team is ready to provide a network patch for the ITN in the coming week. After this, the team will continue to release regular patches to maintain network stability.
Cardano (ADA) Price Today – ADA / USD
Also, Hoskinson declared that the team was deliberating the usage of capacity metric while collating feedback and data on how the pools are being run by the users. And also if the designed protocol would, indeed, help the fountain attain decentralized and a stable network.
In the recent AMA session, the exec send:
“We have been able to collect an enormous amount of data about the use and misuse of the protocol. we’re now getting a lot of feedback about the good, the bad, and the ugly second we were very curious to see if the parameters we had chosen and the way that we had designed the protocol would allow us to achieve decentralization and performance and a stable Network.”
In a case where someone in the network acts cruelly, Hoskinson stated that it would be easy for developers to
The idea behind pledging, installed in the incentivized testnet, is where the stake pool operators assign their stakes to their pool and register a pledge address when they register the stake pool with the Cardano Foundation. Before the launch of the Shelley Mainnet, the foundation was evaluating means on how to advance the protocol. Also, the Cardano forum declared that after the launch of Shelley’s mainnet, the Haskell Shelley testnet will be released soon.
Cardano ADA is Decentralized
There has been a series of questions seeking if Cardano is decentralized or not. According to Hoskinson, Cardano is decentralized. The pools are shared equally, hence they do not get flooded in the market. The price of the ADA coin has been trading in the bearish zone for some months now. The coin has recently gained substantially. Previously, the price was trading at $0.038 and might rise to $0.041 and $0.053 per RSI and MACD. Also, the price might likely decrease if the trends fail to break the wedge.
In the past few days, Cardano has been trading upside. The massive increase has helped the coin to surpass its previous price decline. Regardless of the price volatility, ADA has maintained its price momentum as the price didn’t decline below $0.0386 in the past 24 hours. Currently, the coin is trading towards the significant support area at $0.0360, and it seems likely that it might test this area before a price recovery.
Cardano [ADA] Price Prediction 2020 | 2025 | 2030
Just like it always does, crypto made another violent, strong move in the direction no one expected it and all coins gained back losses previous weekly losses.
The total market cap almost dropped to our predicted zone of $162 billion – it stooped all the way to $170B before bouncing back up (data by Tradingview).
Right now, we are still not in the clear as the market hovers around $198 billion while the “safe” zone is above $205 billion and Fib382 line.
I would argue that total market cap chart is the most important one to pay attention to as it is a leading force and direction picker for all coins, bitcoin included.
As you can see below, Fear & Greed Index is still in the fear zone but that is improvement to the extreme fear status it had only 2 days ago. Sentiment is picking up although many voices are calling for caution as the bears are far from being away – they might only be making a brief pause.
ADA/USD Price Analysis 28th November
On a 4H ADA/USD timeframe, you can clearly see how ADA fell out of a horizontal channel between $0.039 and $0.044 and is now trying to recouperate that zone. Coincidentally, $0.039 is a sturdy support/resistance and that level will lend a lot of impact to short-term ADA price action, depending on how the battle for it plays out.
Right now, the whole market is slowing down after the mini-rocket move from 2 days ago. A move down is still more likely in my eyes as we didn’t drop as deep as I have expected in the previous bear period.
Below is our long-term ADA forecast.
What is the Cardano outlook for 2019 and the following years? Many people are currently asking themselves this question. The ambitious company is still young, but has a lot of expertise and big plans for the future. How will this affect the price and will Cardano be able to meet its timetable?
Cardano was founded by Charles Hoskinson, among others, who was also instrumental in laying the foundations for Ethereum. According to Hoskinson, Cardano is the 3rd generation of blockchain technology. While Bitcoin was the first generation and Ethereum the second, Cardano will build on it and improve its vulnerabilities. The project focuses on the development of advanced software tools.
Cardano is very innovative and has many advantages. These could provide the decisive competitive advantage and bring the project far forward and have a positive impact on the Cardano forecast:
- The platform uses Ouroboros, which is considered a new better version of the classic Proof of Stake.
- The Cardano Blockchain is designed to handle up to 10,000 transactions per second.
- Full compatibility with other blockchains.
- High network flexibility
- Improved security
- Extended functions for Smart Contracts
- More decentralisation through improved administration and control
Cardano (ADA) Roadmap
Cardano still has some goals for 2019 that they want to implement. In total, the roadmap consists of 5 phases, some of which have already started or have been almost fully implemented:
- Byron: Introduction of the Cardano-Mainnet. Users can trade and transfer the native token ADA. This phase has largely been completed, and developers are currently working on improving block storage. The Rust project is also under development and is supposed to be a tool box or open source library with different products.
- Shelley: To provide more decentralization by creating incentives for stakeholders and by improving networking and infrastructure. Network and wallet synchronization have also been improved in this phase.
- Goguen: This phase focuses on improving and integrating smart contracts. A new virtual machine, IELE, was developed to be faster, simpler and more secure at the same time.
- Basho: In this phase, development focuses on improving performance, security and scalability. It is still in the early stages of development.
- Voltaire: The final phase is about security, scalability, decentralization and above all sustainability. The introduction of a treasury system and governance should enable the community to manage itself autonomously and the blockchain to be self-sufficient.
Cardano Forecast: What do the experts say?
In general, the Cardano forecast seems to be positive. Most experts and algorithms agree that Cardano will increase in value:
- Smartereum: Smarteum’s Adam Web believes that Cardano is a stable crypto currency that should be included in your portfolio. He believes the ADA token will be worth up to US$2.50 by the end of 2020. The 5-year trend is even more positive. The price could exceed US$10 by then, the expert says. He justifies this assessment among other things with a forthcoming partnership between Cardano and Metaps Plus, one of the largest mobile phone providers in South Korea.
- UToday: It’s in the same groove as Smarteum. However, the long-term assessment is much more cautious. In five years, the price could be around US$5.
- Cryptoground: Here it is estimated that the price will rise by around 93 % towards the end of the next year and settle at US$ 0.16. In the long term, Cryptoground is convinced that the price will exceed US$ 1 in 5 years.
- WalletInvestor: This one is less optimistic. WalletInvestor assumes that the price will fall by up to 83 % to a price of US$ 0.0138 at the end of this year.
How strongly the ADA price will rise and over which period is still unclear. This depends in part on how the roadmap will be respected and whether Cardano will be able to keep to its schedule. The general market development also influences the Cardano price, of course, so there is no guarantee for the estimates.