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Cardano (ADA) Launches New Version Yet Its Price Remains Stagnant

Charles Hoskinson, the founder of Cardano (ADA), announced the release of the latest version of ADA. Taking to his Twitter handle to make the announcement, Hoskinson wrote about the new version of the protocol in an August 6th tweet. This announcement brings the ADA community some heartwarming news, thus making his return to Twitter a special one after being away for awhile.

Areas Of Improvement

Hoskinson is keeping the much-awaited details of the upgrade mystery. Though, some sketchy details show that the now-old version 1.3 protocol and Daedalus wallet received improvements simultaneously. With this upgrade, the new version of the protocol will have an expanded memory and increased speed. He also noted that the 1.3 version has completed the required QA period. For the entire network to update, it will take some days. After September 4th, the new 1.4 version of Cardano protocol will be under its QA process, Hoskinson concludes.

The Cardano (ADA) Objective

Cardano (ADA) was a project developed to potentially replace Ethereum (ETH), which reflected in its white paper. With Ethereum struggling with scalability and other setbacks, Hoskinson launched ADA in the hopes of correcting the lapses in ETH. Hoskinson was also a major contributor in the Ethereum and Ethereum Classic (ETC) projects. Apparently, ADA doesn’t seem to be anywhere close to displacing ETH despite this new version.

Future Plans

Today, many ADA investors have their assets in Binance wallets. Many hope that hodlers will use their ADA tokens in their various wallets to stake the token. Though, these investors whose ADA are in Binance wallets may not be participating in the exercise as the cryptocurrency exchange has not announced its readiness to participate in the reward programs.

Obviously, the Cardano project still has a long way to go. Well, the reason is simply that it still lags behind the most active blockchains around. For instance, TRON (TRX) beats ADA in daily transaction processing.

Hoskinson and the entire IOHK team have yet another challenge staring them in the face. Here it goes: the ADA explorer blocks don’t always free all the transactions, thus holding these transactions that could potentially be rewards. Well, the reason for this drawback is that its tokens are hardly transferred to the Daedalus wallet.

Cardano (ADA) Price

Despite the positive development of version 1.4 protocol, ADA price remains stagnant, lacking volatility, around $0.113. To date, ADA trading is still done largely on Binance with an asset hovering just above 33% when compared to the volume of Tether (USDT).

 

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Jeffrey McGovern

Jeff is a cryptocurrency supporter and shares great admiration for both blockchain tech and Bitcoin. Originally from Charlotte, NC, Jeff graduated from North Carolina State University, but now resides in South Florida. With a background in English Literature, he never believed his 10 years of writing experience would be used towards creating and editing important crypto/blockchain related news.

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Jeffrey McGovern
Tags: ADABinanceBinance WalletCardanoCharles HoskinsonETHethereumhodlersIOHKScalability
8 years ago

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