Cardano [ADA] surges by 4% following Coinbase addition speculation and integration to Ledger wallet.
Cardano looks optimistic after the announcement of its 1.5 version release on the mainnet. The Cardano 1.5 update marks the many improvisations, like Ouroboros BFT consensus protocol, from its precursor Ouroboros Classic.
The latest release and following upgrades could potentially be a reason for Cardano exhibiting a surge of over 4% in the current bear market. The upward volume movement can also be attributed to the coin’s speculation of being listed on the trading platform Coinbase. The trading platform announced the exploration of Cardano, Basic Attention Token [BAT], Stellar Lumens [XLM], Zcash [ZEC] and 0x [ZRX], out of which most of the coins have already been added.
Another reason that led to the pump can also be speculated to be the integration of Ledger Hardware Wallet to the Cardano network. The announcement was made by Cardano Founder Charles Hoskinson. Talking about the integration, Hoskinson said, “This means users will be able to hold their ADA offline, through the convenient and highly secure means of cold storage.”.
CoinBase could offer support for ADA
Cardano (ADA) Volumes Almost Double, CoinBase Could Trigger Rally
Transaction averages almost double in the last two weeks
After dropping from the top 10, Cardano (ADA) is up 17.4 percent in the previous week. Because of this, it is one of the top performers and could register more gains if CoinBase supports ADA.
Cardano Price Analysis
On one end, CoinBase never-ending controversy makes them appear weak. However, as the third most liquid exchange after Binance and Liquid, their influence cannot be written off. The CoinBase Effect may be waning after the exchange’s effort of increasing the number of coin offering. Regardless, listing exposes the asset to more than 25 million customers tagging extra demand from an exchange that is secure (never hacked) and insured.
Back in Q2 2018, CoinBase said they were exploring five coins including Cardano (ADA). During their consideration, they would work with banks as well as regulators to enable the roll out in as many jurisdictions as possible. At the same time, they would remain transparent to avert accusations of insider trading.
Of the five coins, Cardano (ADA) is the only asset that is yet to be listed. Against expectations, in the last three quarters, CoinBase were aggressive, listing diminutive and low liquid assets as BAT, OX, and ZCash (ZEC). To some extent, this was understandable since ADA remained centralized as development steps up. However, the recent conclusion of Byron and the transition to Shelly would increase chances of CoinBase.
Cardano News Today: 1.5 Mainnet Release Successful, A Feature Will Move Cardano (ADA) Price Upword
Cardano has successfully deployed its 1.5 mainnet, bringing the protocol a step closer to proof-of-stake consensus that “matches the security guarantees of proof-of-work protocols such as Bitcoin.” The update also includes a number of other optimizations, primarily around the blockchain’s crypto wallet, Daedelus.
Cardano (ADA) Price Today
Cardano’s 1.5 Mainnet Release Successful, Progress Towards New Proof-of-Stake Protocol
On Mar. 21st, Cardano deployed its 1.5 mainnet. The release is the final stage of the project’s “Byron” phase of development, which includes optimized block storage, tools for programming language Rust, Daedalus for Linux, a Cardano testnet, and other features.
Technically, the release will fork Cardano. However, because the release is uncontentious it is unlikely to split the community or create a separate cryptocurrency.
Coin’s price to move upwards in the long term
The Cardano community previously announced the integration of Ledger hardware wallet into the ADA ecosystem in order to address scalability, interoperability, and sustainability issues.
It has also been speculated that Coinbase Pro would add support for ADA, by the end of 2019’s second quarter.
The short-term indicators for Cardano [ADA] exhibited mixed signals with high volatility and possible price breakouts. The long-term indicators, however, projected strong bullish pattern for the coin’s price.
Is It Closer To A New Proof-Of-Stake Protocol?
Although the Cardano 1.5 mainnet was successfully released, there are still a number of procedures to take place before the protocol enters the Shelley phase of development and transitions to a proof-of-stake (PoS) protocol.
Currently, the project is using the Ouroboros Classic protocol which uses a limited number of nodes and suffers from other deficiencies. To improve upon this, the recent 1.5 release included a new consensus protocol called Ouroboros BFT (Byzantine fault tolerance).
This Ouroboros BFT protocol is a key step in transitioning the Cardano protocol to proof-of-stake, but it won’t be activated until a later date, which has yet to be announced.
The protocol update will deactivate the Ouroboros Classic protocol and activate the Ouroboros BFT consensus protocol through a noncontentious hard fork. This hard fork is necessary to then transition Cardano’s Ouroboros BFT protocol to Ouroboros Genesis, the protocol for the Shelley era.
Therefore, though Cardano’s 1.5 mainnet has successfully been released, it appears we are still a ways away from a transition to the proof-of-stake consensus protocol.
Shelley Upgrade Getting Ready On Cardano
Cardano is one of the biggest cryptocurrencies in the space at the moment. The team have released the 1.5 version earlier this week which is a key step towards its highly anticipated Shelley release. It is getting closer to ditching cryptocurrency miners and running as a proof of stake blockchain.
The latest version introduces a large volume of changes aimed at smoothing over the transition from its current state, dubbed as Byron, towards Shelley which fans have been anxiously awaiting. As well as other things, the Shelley upgrade which will integrate a new consensus protocol, Ouroboros BFT which assists the cryptocurrency guard against 51 percent attacks.
Although the new upgrade protocol won’t be implemented straight away, Cardano has said that the protocol will technically be implemented along with a hard fork but it will be executed in a “smooth and automatic way”.
As well as moving Cardano towards the Shelley protocol, version 1.5 has brought in some new features. This includes some changes to the UX in addition to providing better information about the amount of disk space required to run a Cardano node.
Although despite making slow and steady progress, Cardano still hasn’t been listed on Coinbase, one of the biggest crypto exchanges in the United States. Although this should spark some hope in Cardano investors as the token was listed as a potential cryptocurrency by Coinbase. Although new listing by Coinbase has got a history of boosting the price of the newly added cryptocurrency, XRP and Stellar’s recent listing on the platform didn’t do much for the price. In fact, they only experienced minor gains following the announcement of a listing.
Cardano is still continuing to make moves despite the continuous grip of the bears. With the upcoming Shelley update on the horizon for Cardano, could Coinbase be getting ready to list the cryptocurrency in the near future? One can only hope.
Cardano (ADA) Bullish as IOHK Launches The Last Major Release Prior to Ouroboros BFT
With the recent launch of the Cardano 1.5 that was done on the mainnet has been marked as the last major milestone that has been achieved by the Byron development phase, plus the move that has been made towards the Shelley phase.
There was a brief reunion that was done on the testnet early this month; this is where Cardano went ahead to release the new Cardano 1.5 on to the mainnet, all this happened on 20th March. The company went ahead to introduce a new consensus protocol together with a newly upgraded wallet for its users. With this new development, the company could not resist announcing it on their official website.
IOHK, the team in charge of the development of Cardano (ADA), just announced the release of Cardano 1.5, satisfying the expectations of the community and the objectives set out in the Cardano roadmap.
In a message published by Maki Mukai in Cardano’s official forum , the IOHK team shared its enthusiasm, highlighting that this is the last step before the implementation of Shelley:
Today we release Cardano 1.5 on the Cardano mainnet. The Cardano 1.5 release is a milestone because it is the last major Cardano release of the Byron development phase, which we have been in since the launch of mainnet.
The progression from Byron to Shelley is fundamental for Cardano since it brings, among other things, the transition to “Ouroboros BFT” with better protection against 51% attacks. They will carry out this Brand new Ouroboros (evolution of the Ouroboros Classic protocol) through a hard fork. This new protocol is key to the future roll-out of “Ouroboros Genesis,” which would mean complete migration to a PoS algorithm.
CoinMarketCap Rating System Gives Cardano (ADA) An ‘A’ In Its Crypto Project Health
Cardano (ADA) Extends Upward Trend With CoinMarketCap Giving The Coin An ‘A’ Rating
Cardano’s recent developments and native token performance have not only caught the eye of investors. CoinMarketCap.com which rates coins through the Fundamental Crypto Asset Score (FCAS), has given Cardano an A, meaning it is in its prime time. The FCAS measures User Activity, Developer Behavior, and Asset Maturity.
Although investors will mostly make investments based on price behavior, the FCAS goes beyond this and helps investors understand more fundamental issues about cryptocurrencies and help them make smarter investment decisions especially for the long term.