Cardano announced the release of the testnet for smart contracts


Cardano (ADA) is taking steps to complete the process of forming a full-fledged ecosystem, by launching a testnet of smart contracts. Founder Cardano Charles Hoskinson on his Twitter-page posted a tweet about the launch of the testnet on May 28. The news of the updates appeared just in the period of market correction, but soon the price of ADA began to grow again. ADA prices stabilized to $0.23, according to CoinMarketCap.

The cryptocurrency community is currently waiting for the migration of EOS tokens and the transition to the main platform. TRON already announced the launch of the network, but a full transition will be made at the end of the month after the transfer of tokens is completed. The Cardano project lags behind in this regard, and it is worth waiting for important announcements in the future. Meanwhile, the development team is releasing software updates for Cardano 1.2, and is preparing for the release of Cardano 1.3.


To date, the Cardano ecosystem is a slightly different project, similar to the QTUM, Stellar, NEO platforms, which is more focused on attracting the initial coin offerings to its own tokenized economy. Of course, the project is far from realizing this goal, but the news that South Korean authorities are planning to legalize ICO after a ban can have a positive impact on the market value of a digital asset.

ADA is trading against the Korean won – about 45% of the total trades and almost 40% of transactions occur on Upbit. Binance accounts for about 15% of the total trading volume, where ADA is traded against Tether (USDT). Cardano received one of the highest ratings of the rating agency Weiss Ratings, which noted the high level of technology, but still, the digital asset considers a relatively risky investment with a low level of adaptation.