Cardano Activates Smart Contracts via Goguen Update
On September 12, Cardano, the third most valuable crypto project, activated smart contracts, officially marking the end of the Goguen Phase, the third of the five steps that would complete Cardano's development.
It was a milestone event for the Cardano project, a move that saw ADA prices slightly expand before cooling off in subsequent sessions. At the time of writing, ADA is stable above $2.40, according to CryptoAltum data.
There is excitement now, and a lot of traders are focusing on the project. With smart contracts in the equation, Cardano is officially the most decentralized and valuable Proof-of-Stake platform with smart contracting capability as per the crypto market cap ranking on the chart.
Following the activation of Shelley, Cardano boasts of over 1k staking pools, and over 70 percent of ADA is staked, securing the network. This effectively makes Cardano the most decentralized Proof-of-Stake platform, which may attract more projects to the scientific-reviewed blockchains.
Besides security, Project Catalyst—a DAO—continues to provide funding for projects looking to build high-impact dApps on Cardano's rails. This, analysts observe, would prop up ADA prices, even pumping the coin's valuation to all-time highs above $3 in the medium to long-term.
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