Cardano, the sixth largest cryptocurrency on the market, has many in the crypto community with high expectations thanks to the potential of its Goguen implementation, which is soon to hit the network.
The founder of Cardano, Charles Hoskinson, noted that the launch of Goguen represents a big step forward in the capacity of the Cardano network. This implementation, known as the “Goguen era,” will allow the network to activate smart contracts (smart contracts) to implement new functions on the network and improve its performance. In a WADA recently, Hoskinson noted that Goguen It is an implementation that “it is physically changing the way each transaction and the entire system in general works”, referring to the potential that this implementation combines to transform the entire Cardano network.
The founder of the network also pointed out that the Goguen era integrates a total of 3 HFC (token locking) events; of which the first has already been implemented, while the other two are soon to arrive. Hoskinson also stated that the second of these events is expected for next February, and will allow Cardano to move further towards consolidating its new implementation.
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An evolution of an era
Cardano developers recently published the Roadmap of the project where they show the evolution of the network towards its future Goguen implementation. In this roadmap, the developers specify that Cardano has already evolved from the era known as Shelly to the Goguen era, noting that the future implementation has taken place in parallel with Shelley.
To implement the Goguen era, Cardano developers are also evolving to create a development and execution language for smart contracts called Plutus. This language is already in a trial version and is supporting network developers to implement smart contracts. Also, Goguen's roadmap indicates that the new functionalities that the network will have with this implementation simplify the entire process of creating smart contracts for the design of financial applications both for expert developers and for users and enthusiasts with little programming knowledge.
More surprises for the crypto community
In addition to the arrival of Goguen, Cardano is also preparing a big surprise for the crypto community. Last December, the network developers announced that Cardano is opening up to the Solidity/Ethereum community to accelerate the implementation of its program.K Ethereum Virtual Machine (KEVM)”. KEVM is compatible with the Ethereum network and allows developers to experiment with any smart contract executable within this network, improving its security and performance.
With all these updates, Cardano pursues its goal of offering effective solutions to the problems that exist within the crypto community today. This network is designed to offer scalability, flexibility and security under a digital infrastructure designed in layers.
ADA price almost triples
So far in 2021, the price of ADA, Cardano's cryptocurrency, has almost tripled in value, going from $0,14 USD to $0,37 USD at press time, showing a performance of 140% in recent 30 days. With this new value, ADA surpassed BCH in the digital markets to rank as the sixth largest cryptocurrency in these markets with a capitalization of more than 11,4 billion dollars.
Source: CoinGecko
Although some analysts point out that they have not been able to identify the origin of the current trend, which even coincided with a significant increase in search interest in terms related to Cardano, it is presumed that the early arrival of Goguen to the network is awakening the user interest and new expectations in the crypto community. Likewise, the arrival of the bridge between ADA and IOTA is also boosting the value of ADA in the markets.
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