Shelley Launch Coming In Two Days: Cardano’s ADA Surges 7%

The Shelley launch is coming in two days as the Cardano Founder Charles Hoskinson said that that all systems are ready to go. Thanks to the latest announcement, the ADA token surged by 7%  as we are reading more in the latest Cardano ADA news.

Over the past 24 hours, Cardano’s ADA surged by 7% reaching a price level of $0.1485 which is the highest level that the asset visited since the middle of 2018. The Shelley launch will happen on July 29, in two days’ time which is considered the strong bullish event for the blockchain and its technology. The Cardano Foundation described Shelley as:

 “Shelley will also see the introduction of a delegation and incentives scheme, a reward system to drive stake pools and community adoption… Come the end of the Shelley era, we expect Cardano to be 50-100 times more decentralized than other large blockchain networks.”

Stress tests done. All systems go. Update endorsement signed. Rocket is in the air. Hardfork coming July 29th. Will post logs tomorrow pic.twitter.com/WWB5xXCq4b

— Charles Hoskinson (@IOHK_Charles) July 26, 2020

This is extremely positive for ADA due to the staking implementation. By implementing staking ADA, all of the users and investors that wanted to purchase ADA locked up the coins and decreased the supply while increasing the demand. The Cardano developers stated the Shelley hard fork but some have misunderstood this as a sign of full-fledged launch which was not the case. Two days after the hard fork began, the Co-Founder Charles Hoskinson confirmed that “all systems go” in a tweet:

“Stress tests done. All systems go. Update endorsement signed. Rocket is in the air. Hardfork coming July 29th. Will post logs tomorrow. It’s a giant leap forward because unlike every other update in the history of the project, we are now moving from a static and federated system toa dynamic and decentralized system, he commented” in a video shared on Youtube a few days ago as of this article’s writing.”

Hoskinson believes that with the Shelley launch, the Cardano project will start booming on the market as Ethereum is now the leading smart-contract platform by far with most of the tokens and users are economic value processed. Shelley may change this as Cardano becomes even more usable as a network:

 “This time next year I predict there will be hundreds of assets running on Cardano, thousands of DApps, tons of interesting projects, and lots of unique use and utility. 2021 is going to be so much fun watching this grow and evolve. The community is definitely ready to innovate.”