Cardano Shelley Has Revolutionized the Blockchain Industry But ADA’s Price Remains Bearish. Before the Cardano Shelley hardfork, Charles Hoskinson and the rest of the Cardano development team promised that Shelley was going to be a game-changer in the blockchain industry.
Quantstamp and many other related firms have confirmed this fact. Hoskinson said that the Shelley upgrade will put Cardano on the same level as Ethereum 2.0. Yesterday, the CEO of Quantstamp, Richard Ma, during an interview with Cointelegraph, expressed his opinion of Cardano’s Shelley. In his words;
“It’s clear they’ve put a lot of internal effort to solidly test and properly engineer the code and it’s shown through the smooth launch. We also recently audited prysm from eth 2.0 and we would say that in terms of quality, similar to prysm, it is one of the best codebases we have seen.”
While Ma doesn’t believe that Cardano Shelley is better than Ethereum 2.0, he still believes that it is one of the best and that it is much better than Tezos. He continued;
“The move to the Shelley era means Cardano will be the second most popular smart contract platform, second only to Ethereum by the end of the year. As a proof of stake system, it now dwarfs Tezos”.
In other news, the Cardano ADA token has been bearish for the past one week. The token has been doing well since the beginning of the year noting gains of up to 300%. However, it has been moving lower since the completion of the Cardano Shelley hardfork. At the time of writing, the price of the token was $0.138252. It is up by 0.71% against the USD but down by 0.54% against Bitcoin BTC. The trading volume over a 24 hour period is $228,875,183 and the market capitalization is $3,584,480,131. The bearish price action for Cardano is discouraging since many other altcoins are surging significantly against the USD. Even Ripple XRP that is known for trading bearish is currently surging against the USD.
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.
- A Security Audit Company Quantstamp, Says Cardano Dwarfs Tezos Following the Shelley
- Cardano ADA Remains Bearish Despite Positive Trend in the Rest of the Market
Following The successful Cardano Shelley Hardfork, Quantstamp, a security audit firm that has been auditing Cardano for the last two months, has placed Cardano ahead of Tezos and many other decentralized computers. The firm claims that the only decentralized computer that will pose competition for Cardano now is Ethereum.
Cardano has successfully dwarfed Tezos, another decentralized platform that was ranked as an “Ethereum Killer”. While the Shelley upgrade has completely changed the game for Cardano, recent events show that there is a lot of bearish pressure on the Cardano ADA token.