Cardano is a very popular crypto project in the cryptocurrency industry. The creator of the project is very outspoken, and he is also bullish about the project. Cardano is an open-source blockchain project like Ethereum. The project boasts of ADA – its native currency – as the only scientific philosophy and research-driven approach. Cardano is very young in the crypto space. However, it is one of the most active and sophisticated blockchain networks in the crypto industry. The blockchain project will be celebrating its two years anniversary in September this year. With just two years in the industry, Cardano can boost of a significant level of achievements, partnerships, and listings.
Cardano was launched on the Byron foundation era – the first vital technology developments. Nevertheless, the development team behind the project has put in so much effort to upgrade the network. The team upgraded the network with a testnet launch of Shelley era on the 19th of June. The Shelley era is an upgrade of the Byron era and it uses Ouroboros Genesis rather than Ouroboros Classic that the Byron era used.
Cardano has been working towards decentralization over the past year. According to the dev team, the Shelley era is meant to optimize decentralization on the network of Cardano and also to boost security. The crypto project aims to be 50 to 100 times more decentralized than other crypto projects by the end of Shelley era. Nevertheless, the new upgrade – the Goguen era – aims to incorporate smart contracts to improve the capability of the blockchain network.
In addition to more decentralization, Goguen allows for the development of Dapps (decentralized apps) on the Cardano blockchain that provides high-assurance development and peer-reviews research. The new update will give birth to the development – Plutus – a purpose-built smart contract development language. The smart contract development language will use Haskell functional programming language. The new language is designed to enhance the usability and coherency of the Cardano network by letting one codebase to support off and on-chain components.
Goguen Has Another Development – Marlowe
Another development that is in the Goguen era is Marlowe development. Marlowe is a domain-specific, high-level language that is created on Plutus for financial contracts. According to the announcement of the dev team, Marlowe is an easy-to-use platform for developing applications. It also makes Cardano accessible to a wider audience by letting business and financial experts to create smart contracts on the network without any previous knowledge on how to do it.The digital currency market is currently deep in the red and Cardano (ADA) seems to be the only digital currency that is trading in the green among the top 12 coins in the market. The price of Cardano is increasing despite the ongoing market correction. Cardano (ADA) as also gone back to the 11th position on the list of top digital currencies in the market by market cap. The digital currency just overtook Tron (TRX) to reclaim its position. At the press time, ADA USD live price is $0.060046 after an increase of about 2 percent over the past twenty-four hours. The current market of the digital currency is $1.56 billion. Cardano is currently supported at the $0.06 mark. On the upside, the immediate resistance of the coin is at the $0.0650 mark.