Cardano Market Outlook: Shelly public testnet debuts as ADA primed for lift-off above $0.1

Cardano Shelly upgrade public testnet to commence on June 9, 2020.
The testnet phase opens for anyone who can release and maintain a staking pool to join.
Participants in the public testnet will be required to disclose and report bugs as they spot them.

An announcement by the –Marketing and Communications Director of the IOHK, Tim Harrison on Monday said that Cardano’s Shelly testnet was moving to the public testing phase from June 9. This comes after a Friends and Family testnet that has been of great success to the team. However, according to Harrison, the public testnet is significantly different from the just concluded ‘private’ testnet. For instance, the testnet was only open to a handful of participants that were picked from a pool of experienced stakeholders.

Harrison called out to anyone who can launch as well as maintain a staking pool to join the testnet as from June 9, 2020. Participants in this phase will be required to download the official documentation from the Cardano testnets web page. He informed potential participants that the following weeks will involve them a lot because they will be required to report bugs as they are spotted.

The stakeholders of the ADA network are at the momentum not required to carry out any action but they will be needed at a later stage. Besides, staking, Shelly will open up Cardano as a smart contracts platform with the aim of rivaling platforms like Ethereum and Tron and EOS.

As the launch nears, Cardano continues to gain traction in the market. The crypto has closed in on $0.1 but buyers lost steam above $0.09. The price is trading above $0.085 at the moment. Investors are hopeful that ADA will cross the $0.1 milestone before the launch in summer. Already the crypto has made it to the top ten digital assets in the market.

Share: Cryptos feed

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.