Cardano (ADA), led by Ethereum co-founder Charles Hoskinson, has come a long way in a short time. Launched by IOHK, ADA has seen and continues to achieve incredible growth, especially since mid-2020.
New Date for ADA After March 1
Cardano and ADA team made the Mary hard fork on March 1, 2021, and now gave a date for the development that will change everything. Cardano has implemented smart contracts as of March 1, and since then more than 500 projects have been created on the Cardano network. Despite this, the date that the developers gave for complete decentralization was March 31, 2021.
By March 31, the Cardano network is expected to have more than 1,800 community pools, which will become entirely responsible for new block generation. The post shared about the Shelley update in July 2020 actually contained this information.
Each block in the Cardano network is currently passing through federal network nodes connected to IOHK. This leads some analysts to criticize that the Cardano network is not fully decentralized. However, it was known that this will change as block producers increase over time, and the date for change has come.
Cardona (ADA) Price Increased by 730%
ADA, which entered the year 2020 at $ 0.18 and increased to $ 1.5, may continue its 730% increase after March 31. The fact that ADA, which has already received smart contract support, is now getting rid of the federal network node limitation is seen as a major milestone.
The ADA price is trading at $ 1.14 as of the time of this writing. The ADA, which has decreased by 1.3% in the last 24 hours, is slightly far from the $ 1.5 target. After the update on March 1, the price correction is considered quite normal.
Will ADA Rise Again?
Taking advantage of this decline by USDT pulled ADA to the fourth largest cryptocurrency rank by total market capitalization. However, it seems likely that ADA will come one step behind its biggest competitor, Ethereum, with the update on March 31st.
The general decline of the crypto money market has also been effective in this decline in the ADA price. The holding of Bitcoin in the $ 48,000 band will create a positive atmosphere for both ADA and other altcoins.