“Cardano In 2020 Will Be A Beast,” Says Founder Charles Hoskinson
Cardano’s long-awaited and much anticipated Shelley era is fast approaching with the company having launched an incentivized testnet that will reward ADA holders for delegating their stakes.
Cardano founder and CEO Charles Hoskinson, who also co-founded Ethereum took to Twitter to share that they are fast-moving to new releases, predicting the network to be a beast in 2020.
What's truly exciting about the recent releases is how fast we are able to move. Our scientists have done a remarkable job designing great protocols and our engineers are able to bring them to market. Cardano in 2020 will be a beast
— Charles Hoskinson (@IOHK_Charles) November 15, 2019
Cardano’s Shelley release will see the blockchain move to a decentralized state. Now, as part of this phase, last week, Cardano completed the first snapshot and balance check from the incentivized Shelley testnet.
This latest step towards staking will allows investors to earn rewards on their ADA holdings for the first time. To earn rewards, a user can either delegate their stake to a stake pool run by someone else or run their own stake pool. The cryptocurrency's roadmap states,
“Come the end of the Shelley era, we expect Cardano to be 50-100 times more decentralized than other large blockchain networks, with the incentives scheme designed to reach equilibrium around 1,000 stake pools.”
The company also launched a website for the incentivized Shelley testnet phase that marks the “very first steps” towards the network's decentralization.
— Stake Nuts (@stakenuts) November 10, 2019
Just recently, Weiss Crypto Ratings, an independent crypto rating provider praised Cardano calling it superior to the 7th largest cryptocurrency network EOS.
Though EOS came first in the market, with a record $4 billion raised in the ICO, Weiss Crypto ratings said, “it’s becoming increasingly clear that of the two, Cardano is vastly superior.”
This it says is because of the fact that EOS has centralization problems and recently was unable to process transactions which are the result of the network trying to go with a “feeless structure.” EOS did reintroduce fees via REX but it is “also broken and stuck at maximum capacity.”
The 12th largest cryptocurrency is currently enjoying the gains. Today, it is the highest gainer among the top cryptocurrencies, recording an increase of 5.36% while trading at $0.0458.
In the past month, ADA surged over 19% in the USD market and 12% against BTC. However, it is still down more than 96% from it's all-time high of $1.18.