Cardano Reaches Annual Highs Amid Upcoming Shelley Update The eighth largest cryptocurrency, Cardano (ADA), stood out from the crowd this Wednesday - its rate rose 12% to $ 0.0930. This is the highest mark the ADA has achieved in over a year.

Cardano Reaches Annual Highs Amid Upcoming Shelley Update

The eighth largest cryptocurrency Cardano (ADA) stood out from the general background this Wednesday - its rate rose 12% to $ 0.0930. This is the highest mark the ADA has achieved in over a year..



ADA rate growth resumed in May along with reports of progress in preparation for the launch of the highly anticipated Shelley update. It will bring a decentralization aspect to the blockchain, while the existing version of Byron is a federated chain..

At the end of 2019, a testnet was launched with the possibility of earning real rewards in ADA by staking. A hard fork simulation was launched last week to help identify potential bugs ahead of the event itself in late July. On Tuesday, the developers announced the addition of Shelley nodes to the network, which will support the planned update.

In anticipation of the launch of Shelley, the number of staking pools on the testnet is growing rapidly. Two weeks ago there were about 200 of them, and now there are 350.

In the past, the update has been repeatedly delayed by the developers; as expected, it should have taken place at the beginning of this year. Cardano founder Charles Hoskinson confirmed on Monday that the preparatory work is proceeding as planned. The mainnet hard fork is July 29, and the first staking rewards are distributed on August 18.

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