Cardano (ADA) has evolved greatly thanks to the efforts of its research developers and engineers at IOHK. Thanks to the IOHK team, Cardano now runs on one of the most impressive platforms in the market.
However, the IOHK team still has more to offer, with two new testnets set to make its mark of Cardano soon. The first testnet of Cardano, K-EVM would be delivered on May 28, while the IELE VM testnet would be delivered in Q3 Both Testnets would be leading Cardano towards Goguen.
Goguen, one of the two projects currently being worked on by the IOHK team. Project Manager at IOHK, Gerrard Moroney in a YouTube video gave an introduction to the Project Goguen, which is said to deliver smart contract capabilities for Cardano.
Goguen when launched, will also feature Side Chains which would allow users transfer coins between blockchains without a third party. Goguen is expected to be open source and will support holding multiple cryptocurrency in a single ledger. No release date has been announced for Project Goguen yet.
Cardano (ADA) Gets Power Boost from the IOHK Team
Over the years, it has been proven that a digital asset is just as good as the development team behind it. Cardano’s IOHK team has shown its competence time and time again, and possibly deserves more accolade than they receive. Cardano’s IOHK team is here again with a new release, the Ouroboros Genesis.
Ouroboros is the algorithm on which Cardano is built, and as many would know, it is Proof-of-stake based. Proof-of-stake algorithm has proven to be a class apart from proof-of-work when it comes to scalability, however, the algorithm protocol has always been susceptible to security issues in the past.
The announcement was accompanied by a video in which Professor Kiayias, from IOHK explained the new development of the team. Upon complete implementation, Cardano would move up the ranks to become of the, if not the most scalable at the same time secure smart contract blockchain in the market.
Updates on Cardano Market Status
Cardano (ADA) is one of the biggest beneficiaries of the crypto market rise. April has seen Cardano grow by over 200%. ADA opened April with a trading value of $0.15, and currently the coin is trading at $0.349.
By market capitalization, Cardano is the 6th largest cryptocurrency with $9.04 billion USD. Cardano has now sufficiently widened the gap between ADA and LTC (by market cap), as Cardano’s market cap outclasses Litecoin’s with an estimated $500 million USD.
Kudos to Cardano’s IOHK Team
At the moment, price of Cardano (ADA) is following broad based drop but interesting new developments around Cardano has invigorated great interests by investors. Huge credit should be accorded to the IOHK team of Cardano for working unceasingly towards making Cardano the best platform available.