The latest updates on the Cardano project have been very interesting and have also had an effect on the ADA cryptocurrency.
Indeed, in recent days the price of ADA has returned above $0.08, after a year spent below this figure, with a first low peak of $0.032 in December 2019 and a second at $0.023 during the collapse of the financial markets in mid-March 2020.
It is worth remembering that ADA was worth $0.022 when it entered the markets in October 2017, a little less than the low of mid-March, and the historical high was reached at the beginning of January 2018 when, in the middle of the speculative bubble, the price rose above $1.30.
The recent growth began in late May, primarily following announcements made by the CEO of IOHK regarding the upcoming launch of the Shelley update, which is scheduled to result in a fork after June 30th.
It is worth noting that in late May, DAO Maker revealed that Cardano was the crypto project they were working on the most, in all likelihood for the launch of Shelley.
Another novelty, also announced by Charles Hoskinson, is that of a crypto-native microchip under development in the blockchain laboratory of IOHK at the University of Wyoming.
The point is that currently on the market there are no chips that can meet all the needs of the company, such as the native ability to store cryptographic keys.
That’s why IOHK decided to design their own in a completely open-source manner.
One of the possible use cases could be that of physically embedding it inside luxury goods to prove their authenticity or to greatly improve the tracking of supply chains.
Another interesting use case would be to render the use of cryptocurrencies similar to that of physical coins, allowing their offline transfer directly from one microchip to another.
Another novelty was the launch of a new ITN wallet, which already has over 20,500 users and almost 13 billion ADA staked.
It remains to be seen what impact Shelley will have on the future of the Cardano project, and its ADA cryptocurrency, as it will be a step towards the future Goguen, Basho and Voltaire implementations.
The project continues to evolve and innovate, although since its launch until today this evolution has only had a partial impact on the value of ADA.