Cardano (ADA) the smart contract blockchain project has been losing steam in recent weeks with the delay in releasing its highly anticipated mainnet ‘Shelley’. This delay has caused concern within the crypto community about the viability of the project.
However, this could be about to change with the recent announcement by Cardano CEO Charles Hoskinson. Hoskinson revealed on Twitter that Cardano is getting ready for the self-node testnet which is expected to be released in a couple of weeks time.
— Charles Hoskinson (@IOHK_Charles) June 1, 2019
Hoskinson announcement corroborates the words of Cardano senior chief David Esser who revealed on YouTube that the Cardano is close to the release of Shelley Testnet.
The testnet would be rolled out in June to an initially small pool of developers before it is released to the public.
Shelley mainnet has been spoken about by the blockchain project as a revolutionary technology that would change the way many view Cardano.
Shelley is expected to utilize a unique proof-of-stake protocol called Ouroboros Genesis which guarantees novel features similar to Bitcoin’s protocol.
This protocol would enable the developments of decentralised applications within the Cardano ecosystem and provide an easier way to write smart contracts for developers.
Cardano really has a lot to live up to regarding its current roadmap with the coin deciding to release a revised roadmap earlier in the year.
Cardano (ADA) Price
The uncertainty behind the release of Shelley mainnet has invariably affected the price of the coin with Cardano dropping out of the top ten cryptos in terms of marketcap in the month of May.
Cardano (ADA) is the 125th largest coin in the crypto market.
- The ROI of ADA stands at 333.11%
- A total of 25,927,070,538 ADA coins are in current circulation.
- The current market cap stands at $2,434,287,589 USD.
- The value of each ADA coin in terms of USD and BTC stands at $0.093890 USD and 0.00001082 BTC respectively.
- The current 24h volume at the same UTC stands at $203,038,117 USD USD.
It remains to be seen whether the impending launch of Shelley would bring about the necessary push for the coin to have an extended bullish run.