The Best Week For Cardano (ADA) Proof That Top 5 Is Achievable
There is a fierce competition going on between Cardano (ADA) ranked 7th and Litecoin (LTC) ranked 6th on XBT.net. It’s easier to end up focusing too much attention on that battle and forget about Cardano’s achievements over the last few months.
Timely boost pushed ADA past LTC
Cardano had replaced Litecoin in 6th position last week, riding on the back of a strong performance and great news about two impending testnets. The two testnets which will no doubt greatly enhance the platform will be launched later on in the month.
There’s K-EVM, which will be launched on May 28, 2018. The other one is IELE, to be launched around the same time. These two are intended to make the upcoming Project Goguen successful. When implemented, Coguen will basically mean that any project can be launched on the Cardano blockchain, significantly increasing its influence in the cryptocurrency space.
It was also boosted by new pairings on Binance and Huobi cryptocurrency exchanges earlier in the month. There was even time for speculation that the crypto was primed for listing on the US-based Coinbase.
That remains as the major platform that if it added ADA, it would mean that the coin can now be accessed by a majority of those excited by its future valuation and those who just love the idea behind its peer-reviewed protocol and independently audited accounts.
But while all these helped to instill a lot of confidence in the investor community, it shouldn’t be forgotten that the real battle isn’t on the trading floor. It is in how blockchain technology is exploited to transform lives. That front presents Cardano’s strongest argument for ranking higher up the charts.
Cardano tops Weiss ratings
That is why, at the moment, Cardano is one of the most improving coins not only in terms of prices on the market but off it too. These great steps are all pushing the IOHK-led project to new limits every other day. And with each new milestone, the reality that Cardano will become a leading cryptocurrency continues to take shape.
Weiss Cryptocurrency Rating site recognizes this and has again rated Cardano at the top of best-performing projects. Though it’s in terms of how their value has moved in the last few days, much of it is as a result of good work on the underlying technology. Here is what the company says to sum up the top three platforms.
“…Our highest-rated cryptocurrencies on fire … Cardano rose from its 2018 low of US$0.14 to a recent high of $0.38. NEO went from $44.62 to a $92.63. EOS has surged from $4.01 to its recent high of $21.13! […] I have written frequently about these super coins. They are truly worthy of your investment dollars.”
Cardano to be used by the Ethiopian government
This week sees the cryptocurrency reveal that it has broken new ground by entering into an agreement with the Ethiopian government.
It is expected that the Ethiopian Ministry of Science and Technology will incorporate Cardano in its Agritech industry. Furthermore, developers in the African country will start training utilization of the Cardano blockchain technology by the end of 2018. If the said MOU is honored, it would represent a vital step for the cryptocurrency.
And the latest
The release of the Formal Specification of the Cardano Wallet Backend
The Cardano Wallet specifications seek to produce the highest quality cryptocurrency wallet that meets certain standards. According to the statement released by IOHK, the focus on such specifications isn’t always the user interface, but the quality of how the software communicates with the blockchain. Especially of interest is the question of how the user “balances” is dealt with. Reacting to this, IOHK CEO Charles Hoskinson said that:
“The release of the formal specification of the Cardano Wallet Backend is a major milestone for us and for all crypto. You should demand this standard for all protocols”
As the battle for 6th intensifies, every indication is that Cardano (ADA) is here to bring blockchain technology to the people.