Cardano (ADA) grows in anticipation of Shelly testnet launch
|- Cardano Shelly upgrade to introduce the proof-of-stake momentum.
- The testnet to allow users to have a “mainnet-like experience.”
Cardano made a big leap on Sunday where it reversed the trend after finding support at $0.0800. The gains inched closer to $0.1 but formed a high around $0.098 before correcting lower again. Short-term support has been established at $0.090 while the token is valued at $0.0926.
The gains come ahead of the highly anticipated testnet launch slotted in July. The founder of Cardano Charles Hoskinson made the announcement regarding the testnet saying that it will allow users to have a “mainnet-like experience.” The current testnet is in support of Emergo, a Japanese-based blockchain company.
The Shelly upgrade has been delayed several times following elongated research and development. Hoskinson has told the community last month that the delayed is not caused by limited resources but a complicate development phase. More than 50 engineers working full-time are involves with the Shelley project.
In the weeks leading to the testnet, Cardano is expected to gain formidable momentum. The upgrade will see Cardano consensus protocol shift to proof-of-stake model. The network will be fully decentralized which makes the core principle of the Cardano network.
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