Thus far, this year has proven to be a notable year for Cardano. Having begun the year at 0.18 USD the fifth-most prominent digital currency relished a significant upsurge taking its price to a peak high of 2.50 USD by the middle of May, a gain of 1,288 per cent.
Even during the downturn that followed due to FUD (fear, uncertainty, and doubt), Cardano fared a lot better than the majority of others. Still witnessing a 64 per cent plummet from peak to trough but managing to build off support to keep a significant percentage of YTD gains.
Up till now, Cardano has gone up 650 per cent since the beginning of the year, whereas Bitcoin has gone up 30 per cent, and Ethereum is up 256 per cent.
Recently, Input-Output Global (IOG) chief Charles Hoskinson went on social media, stating that the transitional “White” stage is nearing an end this week. This pertains to testing by a large legion of broad user communities.
In the coming week, the “Purple” stage is set to begin. This includes involving third-party associates such as wallet supplies and exchanges to guarantee the integration of the new code with their methods.
The CEO stated that everything is set to be concluded today and on Thursday and Friday. The following week, the company will begin bringing in numerous exchange partners outside of the primary “White set” and then go to Light Purple.
With a majority of things according to schedule so far, Hoskinson revealed that an exact date for the HFC (hard fork combinator) would be offered for the duration of the mid-month update. At this point, the IOG will gain feedback from the third-party associates on incorporation timelines.
HFC happens to be Cardano’s way of hard forking to introduce updated code throughout the network. It is intended to allow the combination of numerous protocols, i.e., without the need to make substantial adjustments along the way. In that way, there is not going to be any network downtime, merely a transition from old to new.
With possible unforeseen problems, Hoskinson offers a window beginning from the end of August to the initial week of September. However, as already stated, a fixed date is also set to be disclosed during the mid-month update rollout.
