Cardano ADA / USD is a Proof-of-Stake (PoS) blockchain platform that is completely open source and decentralized. Its main goal is to enable the development of decentralized applications (dApps) through a multi-asset ledger and verifiable smart contracts.
The start of smart contracts in the testnet as a growth catalyst
The IOHK, the driving force behind Cardano, announced that it has updated the testnet.
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September 2nd they have successfully introduced Plutus Smart Contract functions. This means that developers can already start creating dApps and see exactly how they work in the testnet before they present them to the public.
Additionally, Alonzo, the latest hard fork, is slated to launch on September 12th, which could lead to further appreciation.
As a result, the ADA token has risen to $ 3.09, making its last all-time high. However, the token has a lot more growth potential.
In order to ensure the use of smart contracts in the mainnet, the project decided to start a bug bounty program that invites white hat hackers worldwide to participate and to find vulnerabilities.
Should You Buy Cardano (ADA)?
On September 3, Cardano (ADA) was valued at $ 2.95.
To get a perspective on how much this token has risen or fallen in value, let’s analyze its all-time high and then take a look at its most recent performance in August.
Cardano (ADA) hit its all-time high on September 2, when it was valued at $ 3.09. This meant that the value of the token was only 5% higher.
Cardano’s (ADA) low was on August 3, when it fell to $ 1.27.
It peaked on August 23, when it was valued at $ 2.95. This means an increase in value of 132%. According to data from IntoTheBlock, the Cardano network recorded $ 255.47 billion in transactions that were greater than $ 100,000 in the past seven days.
Cardano (ADA) had a 30-day average of 2.13 million addresses, with a high of 2.23 million addresses and a low of 2.06 million addresses, which is exceptional.
Thanks to the update of the Cardano Testnet by IOHK, in which smart contracts were introduced, and the bounty program, activity in the network will increase significantly.
With the planned Alonzo update released on September 12th, ADA is expected to rise to $ 4 in value, making it a worthwhile investment.
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