“The most significant update” for Cardano is live while the ADA price turns green

Cardano 1.4 update live

The latest point of interest for the community is the upcoming Cardano 1.4 update. The update is, in the words of Charles Hoskinson (CEO of IOHK, company in charge of Cardano development), “the most significant update” ever made to the Cardano ecosystem.

Overall Hoskinson already mentioned some details during his November AMA. Hoskinson said:

“The update 1.4 for Cardano is coming along well and we’re in regression testing right now. We’ve had a few regressions but nothing significant is found yet and it’s a lot of new code. There has been a huge amount of refactoring on the core, and we’ve found new database solutions, so we’ve gone from lots of storage to little storage and become much more efficient.” During the same AMA, he stated that the update should be done by the end of November/early December.

The update is live today and here are some of the highlights from it:

  • This release brings significant robustness improvements and resolves some network connection issues which were affecting a lot of users.
  • Daedalus now supports Linux!
  • These improvements are important for cryptocurrency exchanges and other users with large wallets.
  • The Cardano wallet formal specification has significance outside of IOHK and Cardano as well. It’s the most comprehensive document yet that describes UTxO cryptocurrency wallets and their behavior, with all subtle edge cases, using mathematical techniques
  • The update will be delivered to current Cardano users automatically through Daedalus update system.

Cardano price

Cardano price finally stabilized above the $0.0300 resistance level as the price jumped more than 15% and ADA traded above the $0.0320 resistance. The next level to for buyers to pay attention to could be near the $0.0350 level.

One well-known trader, Luke Martin, took to Twitter explaining ADA’s role in potential shift in altcoin momentum:

“A good measure of altcoin momentum is an index of the majors. Coins like $ADA, $EOS, $ETH and others generally respond first to trend shifts. Handful of nice moves today but still well below the dropoff from late November. Use them as a precursor for what other alts will do.”

He also gave his prediction on where ADA price goes in a short-term:

Another trader that goes under a moniker CryptoMonk sees ADA pump as positive signal for the whole market:

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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

Rene Peters

Rene Peters

Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.

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