Cardano has been widely hailed as one of the most ambitious yet scientifically driven projects in the cryptocurrency space. Many cryptocurrency enthusiasts and especially ADA holders have been anticipating the beginning of Cardano’s proof of stake era and its move to become fully decentralized.
The “Byron” era of Cardano’s development first introduced their proof of stake algorithm known as Ouroboros. Now IOHK is transitioning into the “Shelley” era where staking rewards will come in to play. As of now, the Shelley testnet is running, but soon the protocol will make the jump to what is expected to be full decentralization.
Aside from the Shelley mainnet launch, a plethora of positive developments are on the horizon for IOHK and Cardano. Many expect ADA to be added to Coinbase once the transition is made. Being added to Coinbase would be a huge boost for the value of ADA because it would expose so many new crypto users to a low price digital asset which can be easily bought with USD.
Charles Hoskinson also recently lauded a new development at IOHK on Twitter. He portrays the step as a huge breakthrough for the entire blockchain space.
Alright coming out of Twitter retirement for just a moment to tweet this paper: https://t.co/JpbvxJwzbs Chronos is one of the best protocols we have ever written and it’s a major step forward for all PoS protocols. Can’t wait to pull it into Cardano. Back to riding pic.twitter.com/izkzJKcGCQ
— Charles Hoskinson (@IOHK_Charles) July 19, 2019
The development of Cardano’s Proof of Stake protocol has everyone so excited because it means the arrival of staking rewards is nearly here. Holders of ADA will be able to lock their coins up in a staking pool and earn rewards of up to 3.5 percent.
As Cardano inches closer to this rewards era, the community is coming alive. Staking pools are forming and becoming vocal on social media outlets. Plus, applications such as cardano staking pool calculators are popping up more and more in efforts to show folks what they can earn simply by holding ADA.
As the good news keeps piling up for Cardano, a recovery to $0.10 is likely and it’s easy to see ADA growing in value beyond that mark.