Cardano nears another milestone and following its 360 Event, the platform developer IOHK published a summary of the key points. In addition to showing a demo of a DEX, IOHK confirmed the day for “D-Day” so let’s read more in today’s Cardano ADA news.
Cardano’s developers announced that they will hand over the control of the block production to community stake pool operators and the D-parameter is a metric that measures Cardano’s decentralization that will be reduced to 0. as IOHK announced while Cardano nears another milestone:
“D-DAY CONFIRMED: Today, we have just successfully submitted an updated proposal to the #Cardano blockchain, handing over full responsibility for block production to the stake pool operator community on March 31st. This is what #Decentralization looks like. Onward!”
The Cardano network has more than 375,000 delegators and 2350 registered pools. The blockchain migrated in 2020 to a consensus protocol that was based on Proof-of-Stake which was the latest epoch before the milestone. Charles Hoskinson stated that this was a “hell of a journey.” Furthermore, IOHK stated that more than 1200 developers will be able to create applications for Cardano and will expect an increase with the LLVM which will give universality to the smart contracts deployed on the platform.
THREAD: We hope you enjoyed this week’s #Cardano360. With a packed 3.5+ hour show, we don’t expect you've caught up on all the news just yet.
— Input Output (@InputOutputHK) March 27, 2021
Plutus is expected to be deployed on the third hard fork Combinator event Alonzo and this will occur at some point in June after the Plutus testnet. Also, Silviu Petercescu and Gerard Moroney, the directors of Operation and Strategy at IOHK revealed:
“partner strategy is actually a key element of our broader strategy which is the differentiation strategy for Plutus. What we want to achieve is basically have these professional developers complement the work that the pioneer’s program is going to help us do and achieve. So we are going to fast-track our quality assurance and testing process towards the next Hard Fork.”
According to the IOMAP metric, an approximate 144,000 addresses purchased 3.9 billion ADA between $1.12 and $1.16 so the ADA price is now at a critical support level in that area. Analyst John Isige predicted a 21% increase in the price to $1.35 so if the coin manages to validate the gap, it can surge again as Isige stated:
“The Relative Strength Index (RSI) reinforced the uptrend after recovering from the oversold region. Cardano’s momentum to $1.35 is bound to continue.”
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