Logo
Cardano Ecosystem

Elevenews

07/24/2023

·

198 views


Cardano (ADA) Gears up for Mithril Mainnet Upgrade: What’s Changing? - ELEVENEWS

Cardano (ADA) preparing for the mainnet release of Mithril, a stake-based signature scheme and protocol. Mithril promises to enhance the speed and efficiency of nodes’, making the Cardano blockchain more...

Cardano (ADA) Gears up for Mithril Mainnet Upgrade: What’s Changing? - ELEVENEWS
  • Cardano (ADA) preparing for the mainnet release of Mithril, a stake-based signature scheme and protocol.
  • Mithril promises to enhance the speed and efficiency of nodes’, making the Cardano blockchain more efficient. 
  • Cardano (ADA) daily price chart indicates a bearish trend,

In a highly anticipated move, IO Global (IOG), the tech firm behind Cardano’s research, is gearing up for the mainnet release of Mithril, a stake-based signature scheme and protocol aimed at overcoming major challenges in blockchain applications. 

In August 2022, the team released Mithril’s proof of concept and officially unveiled it in December. The project is now on the brink of making a significant impact on the Cardano network.

Mithril promises to significantly enhance the speed and efficiency of nodes’ syncing times, paving the way for a more streamlined and efficient Cardano blockchain. Additionally, the protocol’s focus on security and decentralized decision-making empowers users to take full control of their data and transactions.

Cardano as a two-story building. Where the first floor houses the cryptocurrency ADA and records transactions (Cardano Settlement Layer – CSL). The second floor hosts smart contracts and computational processes (Cardano Computation Layer – CCL), Mithril emerges as a powerful tool that bolsters the capabilities of the entire Cardano ecosystem.

Cardano’s ADA Responses 

However, despite the impending mainnet release and the promising advancements Mithril brings, the native token ADA’s price has not reacted as expected. According to CoinMarketCap, ADA has experienced a decline of over 2.6% in the last 24 hours. At the time of writing, ADA traded at $0.3066 with a 24 hours trading volume of $203 million, soared over 13%.

Cardano (ADA) Price Chart (Source: Tradingview)

Further, Cardano’s daily price chart indicates a bearish trend, with the current price remaining below the 50-day exponential moving average (50 EMA). Additionally, the daily Relative Strength Index (RSI) shows that the cryptocurrency is nearly in oversold state.

Source

Join our Telegram Channel https://t.me/elevenews

AD

Proposals Catalyst F14 - Cast your vote, search "Otavio" in the Voting App.

If you are you using your ADA to vote in Cardano’s Project Catalyst don’t forget to voice your vote. We would be excited if you can see, comment, share and vote for us. Tip: To find them its easiest to search for "Otavio"Vote for Us


Read Original Article on Elevenews

ORIGINAL SOURCE

https://elevenews.com/2023/07/24/cardano...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


More from Elevenews

See more
Solana vs Cardano: Which Ethereum Competitor Will Prevail? - ELEVENEWS
Elevenews
Solana vs Cardano: Which Ethereum Competitor Will Prevail? - ELEVENEWS

11/07/2023

·

771 views

Related News

See more
Banner-Tech-Summit-Rio

Voting for Us - Catalyst Fund 14

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)