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As the new decade kicked off, cryptocurrency ADA witnessed a 12.82% price pump. It has finally broken its yearlong bearish trend. Currently, ADA is riding the wave of Cardano popularity. Additionally, it has turned out to be a much promising blockchain project. That’s because it assures to solve the scalability snag of Blockchain networks.
Unarguably, the launch of its incentivized testnet was a tremendous success. Within 24 hours of the testnet going live, 5 billion ADA coins stood staked. And at press time it has already launched over 500 stake pools. Sounds impressive enough!
On the 11th birth anniversary of bitcoin, IOHK CEO Charles Hoskinson addressed the ADA community. In his words, the hard work put in by the team for over 3 years will make 2020 a “Cardano decade.”
Overwhelming Growth? But Why?
Over the last 24 hrs, ADA recorded a 3.6% price momentum and ADA worth $172,629,091 exchanged hands. Undeniably, the credit goes to the rollout of Shelley testnet. Shelley introduces staking and incentive systems to the Cardano network and optimizes decentralization. With that Cardano is imminently approaching its mission. And that is to support a global fully decentralized ecosystem.
Cardano Predominant 2020 roadmap
The community stands witness to the hard work development team has been putting in. According to the roadmaps and Charles latest tweet, the 2020 focus for the team is:
- Smart contracts
- Scalability
- Decentralization
- High assurance
- and Governance.
Developing technology With the right intent
Charles in his recent AMA said that the team is working towards building the right technology. They have identified the real need to support the right intent. With sharding and parallel chain updates coming to Shelley, the blockchain scalability issues will soon be eliminated. Shelley’s stake pool size continues to grow. And the project claims to turn out 50-100 times more decentralized as compared to other blockchains. Shelley’s mainnet is progressing to go live by early 2020.
According to Charles’s recent tweet, as the pool magnifies, the momentum of growth with go up.
And the design eventually means as we gain more pools, we get faster. This is how it's done kids
— Charles Hoskinson (@IOHK_Charles) December 23, 2019
Smart Contract advantage
Along with Shelley, development teams are working on Goguen that renders smart contract capability to the network. With this Cardano will pave its way to enterprise-level usability as it will add multi-currency LEDGER support. And both fungible and non-fungible token support.
Catapult the Performance
For the entire 2020, a strong emphasis is to improve the scalability. Additionally, the interoperability improvement is also on the roadmap. For this, sidechains will be introduced to the network. As these sidechains will handle the volumes, no speed, security and reliability compromises will happen.
Finishing Touch
A voting system and treasury will hurl Cardano across the fence. And it will become a truly decentralized blockchain platform. With this, it will become an entirely community-driven project with a self-sustaining model.
Eyeing Collaborations
Cardano intends to grow with collaborations. And for 2020 top-notch players like Hyperledger, Wc3, Horizon and more are being eyed.
Based on its roadmap and community excitement, ADA seems to turn into a beast in 2020. With a promise to keep you updated, we will see you around again.
