Cardano {ADA} advances: How far along is Shelley? Exploring the dawn of the Goguen phase

Cardano is ranked at #12 to the north of TRON in the market. Since the last 2 days, the altcoin has been backed by bearish momentum. A decline rate of 0.04% affected the digital currency in the course of the past 24-hours. The trading volume recorded is $42.339 million, whereas the supply has 25,927,070,538 ADA coins in play. As of this moment, the total market cap of Cardano is $1.140 billion. ADA is priced at $0.043978 for now.

Data obtained from the ADA/USD chart on tradingview shows that the asset is being controlled by sellers. Support lies near $0.04347 which was attained a day ago, while resistance shall hamper the pace of ADA close to $0.04747. The final peak for the Awesome Oscillator is green, signifying the slight possibility of a trend change in the anticipated future.

The MACD line has remained south of the signal line since 5th of September. The 4-hourly RSI rests at 41.34 after a period of fluctuation.

How does Cardano use incentives to keep actors honest and avoid 51% attacks?

Good question, we have a whole peer-reviewed paper on the topic!https://t.co/6ryBusCSEz

— Sebastien Guillemot (@SebastienGllmt) September 4, 2019

The Shelley testnet initiative and the Rust node [Jörmungandr aka the legendary serpent which is meant to represent connectivity]. The maiden testnet build of Jörmungandr was unleashed back in June this year. Now, considering that we’re about to enter Stage 2; more experiments involving members of the community shall be conducted. This move will test the stability of the network stack [the node has been enhanced since its arrival].

A network of effective nodes must be created for others to conjoin within the Cardano ecosystem. Confirmation is key, as optimistic functioning has been a highlight of ADA since its inception. Rewards for the delegation of stake will be an added incentive. We can hope to see the arrival of the Goguen phase post-2020.

About Post Author

Aditya Chatterjee

A specialist in comics and cryptocurrencies with an inclination towards DASH and Cardano. I have an innate desire to be a seasoned trader in the near future. Analyzing candlestick charts is a personal hobby.