Charles Hoskinson Says Cardano’s 1.6 Update Will Take Off in a Few Days

Cardano (ADA) On A Positive Spell: Can It Surpass $0.050?

In a tweet on August 13, 2019, Charles Hoskinson, CEO of Input-Output Hong Kong (IOHK) said the 1.6 Cardano update would take off in a few days. Hoskinson also revealed a lot of work went into releasing the new Daedalus ADA wallet. Cardano’s community, on the other hand, has shown excitement over the news of the impending update.

Cardano’s 1.6 Update Scheduled to Take Off

According to Charles Hoskinson, Cardano’s 1.6 update will be live within a matter of days. The CEO also asked the Cardano community to send screenshots of Daedalus, a hierarchical deterministic (HD) cryptocurrency wallet for storing ADA, Cardano’s virtual currency.

Furthermore, Hoskinson revealed that a lot of work had been put into the new Daedalus ADA Wallet. He also said he is proud of the IOHK team that had strived to bring about the wallet’s release.

Cardano Community Expresses Excitement Over Impending Update

On the other hand, the majority of crypto enthusiasts who made comments on Hoskinson’s tweet applauded the impending new release of Cardano. While some specifically encouraged the CEO’s and team’s efforts in delivering quality, others asked if this version will be a significant improvement over version 1.5.

Cardano 1.5, on the other hand, was released in March this year. According to IOHK in a blog post on March 22, 2019, it marked the beginning of a shift from the Cardano Byron era to the Shelley era. The blockchain company added that in Cardano 1.4, the last major work that was meant for the Byron code base was completed. However, in 1.5, only changes that would aid the smooth transition to Shelley were made.


A lot of news has emerged from IOHK of recent. An instance is Charles Hoskinson’s announcement on June 17, 2019, that IOHK has signed an MOU with the Georgian government. According to the CEO, the agreement will enable IOHK to create the latest credential verification system using Atala and Cardano for the Georgia country.

ADA, Cardano’s virtual asset is currently priced at $0.052 and has gained 2.42% within the past 24 hours despite the decline in Bitcoin’s price.

Nonetheless, the crypto asset’s market capitalization is valued at $1.3 billion today, which is a significant decline from its $2.4 billion as of June 2019. ADA market cap’s drop has displaced it as the 11th largest crypto asset to the 12th position.