Byron and Shelley Guiding the Evolution Of Cardano Through Market TrendsJanuary 23, 2019
Cardano (ADA) showed a micro leap when evaluated over the past 24 hours. A temporary decline was seen in the price of the Cardano on January 23, 2019. The ADA showed a bullish run later in the day.
At the time of reporting the news, the market cap of ADA was at $1,135,386,844 USD with the total volume at $17,915,388 USD, total supply at 31,112,483,745 ADA and circulating supply at 25,927,070,538 ADA. The maximum supply has been set at 45,000,000,000 ADA. The price was hovering at $0.043792 USD at 2.54%.
The price action of Cardano has been on the decline in 2018. However, the price action has been consolidating over the past month. When compared to the price movements of the past 30 days, it is seen that the price has not moved much. It has been making its move in the narrow range. Prospective investors who are looking to trade in Cardano are waiting to see a break in the trading range to get a clear direction. It might not be possible for investors to take a position until the range breaks.
The volume has been in the $3 million mark, and there has been no significant uptrend in volume. The range is not expected to break anytime soon. Until a clear direction is visible, it is only practical to wait and avoid it.
In the first quarter of 2019, Cardano will reach the Byron phase. Byron will allow users to trade and transfer Cardano. Shelley will ensure that the essential parameters are in place to ensure that the technology will evolve into a fully decentralized autonomous system.
The Cardano Road Map website defines that it is only when the Cardano roadmap moves from Byron to Shelley that stability, interoperability, and governance will be sustained. The complexity of Cardano will increase throughout the development phase.
The already existing smart contracts do not have a rigorous foundation. IOHK is accepting the accountability for improving smart contracts; however, without the complexity and costs similar to Ethereum. The resources are allocated in two different pathways as reported in the Cardano roadmap website.
The complete decentralization of Cardano will be achieved using Shelley. All of the work being done is defined in the milestones of the phase. Thus everything about Cardano is kept transparent.Up-to-date information and details about Cardano are discussed in the different communities of Cardano like Cardano Chat, Cardano Forum, Cardano Reddit, Cardano Community, Cardano Foundation, IOHK, YouTube, Cardano Foundation YouTube, Cardano Foundation Twitter, Emurgo Twitter, Emurgo YouTube, and Stack Exchange.