Cardano Price Increases 60% After Revealing Shelley’s Roadmap

June 4, 2020   (0)   Vandana Malik

Charles Hoskinson, the co-founder of Cardano has recently revealed the roadmap of the latest Shelley upgrade. This was announced by him in a podcast on YouTube with Lark Davis, also known as Cryptolark. Soon after this announcement, Cardano price has seen an increase of 60%.

From July 07, 2020 Shelley network will be upgraded from a centralised one to a complete distributed one. This upgrade will be made possible with the help of Shelley protocol. Among all the blockchain projects, this step seems to be the biggest change of the protocol.

Cardano price increased from $0.055 to $0.088

As there is less than one month for the Shelley upgrade, Cardano price has seen an increase as it has gone up from $0.055 to $0.088. Along with this, the daily trading volume is also increasing by more than fourfold. It came out that the IOHK developers team has been looking after the progress of Cardano for the past two years now. They also worked on the development of different versions and these versions are of staking protocol. Byron is the current protocol and it is out for around 2 years.

Development of ITN was intense for the whole team

The test network of Shelley is going through several final tests before the launch of the network. According to Hoskinson, the whole process of developing this has been quite intense for the complete team of his firm. They have also faced several challenges during this whole process and are building up a completely unique and next-generation operating system. Currently, both Tezos and Cardano are going through an intense competition to acquire the 10th position among top coins. Both Tezos and Cardano currently have a market capitalization of around $2 billion. Recently, Hoskinson also tweeted regarding the same and he has compared this competition with a fight between Balrog and Gandalf in Lord of the Rings.

Articles You May Read.

Vandana Malik
Vandana Malik

Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.