A version of Daedalus for the Shelley testnet is released while 56% of the addresses holding ADA are in profit.
It was in last month that Cardano prices started showing signs of life after a long time. The price of the cryptocurrency jumped more than 50% to climb to nearly $0.90 in early June.
Since then, the market has slowed down and ADA is currently trading at $0.080 but still up 139% YTD and at the tenth spot by market cap.
However, the cryptocurrency is still down a whopping 94% from its all-time high of $1.33.
These gains in the past month have been on the back of the announcement of much-anticipated Shelley’s launch date.
As the Shelley hard ford approaches, Cardano continues to show signs of strength. At its current prices, 56% of the addresses holding ADA are “In The Money” which means if those addresses were to sell their position today, they would make a profit.
Also, 53% of ADA holders have been holding for more than a year, as per IntoTheBlock.
First version of Daedalus for Shelley testnet
This week, IOHK released a version of Daedalus for the Shelley testnet which is designed exclusively for stake pool operator testing. It will eventually be the wallet that ADA holders will use on the mainnet and it’s just one of the many releases that are to come.
We’ve just released our first version of Daedalus for the Shelley testnet. This first version is available just for stake pool operators for early functional testing (via GitHub download). Here’s the lowdown https://t.co/tFeOZTw9hP pic.twitter.com/jPcZiaRkvA
— Input Output (@InputOutputHK) June 16, 2020
The latest news came just two weeks after the Shelley testament was opened to all stake pool operators.
The Haskell-optimized wallet comes only with basic functionality that allows stake operators to create, delete, and restore Shelley wallets. One can also transact on the network.
For now, Daedalus is only available on IOHK’s GitHub repository as the company is looking for feedback for the following version of Daedalus that will be released during the Shelley rollout with new features like delegating stake and checking rewards.
All that we’ve been working on are coming together
A day after the Daedalus wallet release, Charles Hoskinson, founder of Cardano and CEO of IOHK talked about the upcoming Cardano conference in July where they will be sharing the roadmap and what’s to come.
“I think people are gonna be very pleasantly surprised about our progress… we have a few surprise announcements that we’re kind of holding in our back pocket that we’re super excited about,” Hoskinson said in the interview with Messari.
They also have papers coming out soon where they have solved the proof of stake problem to get parity with proof of work. Also, they can make the protocol faster and layer the protocol with different capabilities like sharding if wanna go down that road “but it’s not even necessary.”
Hoskinson who is also the co-founder of Ethereum, which he doesn’t like to be referred to just acknowledged, fired shots at the second-largest network saying the “biggest lie ever told” in crypto space is that “Ethereum has achieved the network effect consensus.”
“They say we’re the dominant platform which is like saying you’re the biggest fish in a very tiny pond next to the ocean,” Hoskinson said.
According to him, everyone is still fighting and no one has won. To win, one has to solve real problems and think in terms of utility and experiences and what is actually going to help your user, he said. Adding,
“I’m ready to fight and I think we’re gonna win this one, all the things we’ve been working on for five years are just coming together all at once.”