The Cardanoblockchain network and its cryptocurrency ADA have gained investor appeal lately, a move that has been promoting growth for the digital currency.
The Cardano network has been developed with a strategic focus on smart contracts targeting advanced projects. It features the ADA cryptocurrency, which is used to facilitate transactions within the network. The Cardano foundation has lately embarked on a mission to boost the popularity of its network in different areas across the globe. The foundation views the African market as one of the best areas for the adoption of its assets because the continent has a high affinity for digital assets.
The Cardano Foundation hopes that the move will contribute towards improving ADA’s value in the cryptocurrency market. So far, the cryptocurrency has enjoyed an overall positive uptrend this year, and the foundation expects even better performance with the increased focus on Africa and other markets. Some of the different markets on Cardano’s radar include Indonesia and Japan, which are both Asian markets.
Prospects and developments
Cardano’s prospects are looking bright, especially considering that its development team unveiled a blockchain interoperability solution. It is a significant step forward for the platform, and experts believe that it will have a positive impact on ADA further progress.
The Cardano foundation has also been focusing on partnerships such as the recent collaboration with a South Korean mobile company called Metaps Plus. The foundation hopes that the partnership will encourage more people from the Asian region to adopt ADA.
ADA’s recent performance
As noted earlier, ADA has so far demonstrated an overall bullish performance due to various reasons such as the Cardano foundation’s ongoing efforts to introduce it to new markets. Its performance might also be influenced by the upbeat performance of the overall cryptocurrency market.
ADA’s price at the time of writing this article is $0.084, fluctuating within the last week. The cryptocurrency has so far demonstrated significant gains this week related to the release of some news regarding the Cardano network.
New scheduled upgrades
The Cardano foundation has recently made some positive announcements such as the plans to launch its Shelley phase in June this year. The Shelley phase will introduce some new features, and the rollout will be carried out on the Cardanotestnet. The initial mainnet deployment was scheduled to take place in Q1 this year, but it was pushed back.
Some of the upgrades that will come with the Shelley phase include paper wallets, quantum resistance, MultiSig transactions, proof-of-stake consensus mechanism, and human-friendly addresses. The update aims to improve scalability, a universal language, and security upgrades.
The Cardano foundation has maintained a patient approach with the development of its network, which has been working on for several years. It has also been the same case with the Shelley upgrades which the foundation has taken its time to work on.
The foundation hopes that the upcoming changes will contribute towards boosting the adoption of its network as well as its native cryptocurrency.
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