With many Altcoins fighting for recognition in the overly crowded crypto market, Cardano (ADA) has announced the KEVM Testnet release. This will see the steadily growing outfit embrace the smart contract technology. This will ensure that the network is free of flaws and bugs.
Making the announcement of the launch yesterday, Duncan Coutts, the Input-Output (IOHK) director insisted that this is a series of Testnets and each has a specific role to play in making Cardano a platform of choice in coming days. The next Testnet is scheduled for the month of July on a date to be communicated in due course.
Why the Cardano (ADA) Testnet?
Any future focused platform should have the user at heart and this is exactly what Cardano is doing. The consumer demands keep changing as technologies advance. The Testnet ushers in new features and functionalities that will move the network forward. These upgrades are a continuous venture and an indicator of an outfit that embraces new technologies.
The just launched Testnet is live and ready for the users. This allows for easy system integration. Users on the other hand can view what developments have been done on the system and what is expected in the future. The platform will use the Ethereum Virtual Machine (EVM) features and has the ability to run most of the EVM programs.
The user concerns where when one of the community members, Reagan Dunagan tweeted and said:
“I think IOHK does AMAZING work in research, but please stay on top of things enough to not have to push things back further. It was initially stated for Q1 decentralization, then Q2, but now back end of Q3. Isn’t ADA supposed to work with Metaps+ in Q3? W/o decentralization?”
The IOHK founder replied and summarized what the Cardano ecosystem stands for and its place in the future. The summery tweet reads in part:
“You want us to get 51% attacked? This might be last man standing.”
Cardano (ADA) Testnet Market Ripple Effect
Just hours after the announcement, the ripple effect on the Testnet has already reflected on the ADA price. With most cons still struggling in the bleeding market, a noticeable spike on Cardano (ADA)price has seen get back on the green and if this holds for the long-term, the network will have a boost before the July second test net.
The price of ADA has surged by $14.40 against the USD pair and 8.45% to Bitcoin since the Testnet launch. The coin has moved to rank 8 by market cap and appears to hold as the next Testnet is just around the corner.
At the time of writing Cardano (ADA) is trading at $0.208267 which is a drop of 2.76% on the weekly chart with the current price being the highest in the last 7 days. However, the coin previously dropped to a low of $0.071 early Sunday.
With trust on cryptocurrencies on the low, any progressive news is attracting a lot of attention. The noticeable spike could awaken the sleeping giant. With several use cases including college certificate verification, more are expected going forward.
Cardano (ADA) long-Term Plans
By launching the Testnet and scheduling more in the future, Cardano future seem quite bright. With a low price below the $1 mark, ADA is ready for mass adoption and this is right entry point for any crypto enthusiast.
After the market correction Cardano (ADA) is predicted to trade above $3. With the new features in place and the launch of KEVM, the issues of attacks will be a thing of the past for the platform. This makes it the ideal time to buy and hold before the whales sent the price to the roof.