A popular crypto trader, Lark Davis, has recently revealed his bullishness on Cardano (ADA) as the community prepares for the Goguen phase of the network.
In a new tweet, Lark Davis shared his price target for the digital token ADA, stating that the hype behind the cooking Goguen phase would serve as the catalyst to push the cryptocurrency towards the ceiling.
Lark Davis tweeted, “Cardano ada going to hit $1 sooner than later! Goguen phase hype about to kick into gear.”
Cardano $ada going to hit $1 sooner than later! Goguen phase hype about to kick into gear
— Lark Davis (@TheCryptoLark) February 1, 2021
Expectedly, the tweet has garnered tons of reactions from various members of the crypto community. Some think it’s another means to pump and dump Cardano (ADA) after DOGE and XRP, while some others believe that the price target is feasible for the cryptocurrency.
About Goguen Era
The Goguen era represents the phase of the Cardano network when smart contracts will be integrated. It’s a big step forwards in capability for the Cardano network to power smart contracts.
While the Shelley era decentralizes the core of the system, the Goguen era will add the ability to build decentralized applications (dApps) on the solidly founded peer-reviewed research and assurance development.
The work of Goguen has been going together with Shelley and when it’s rolled out, it will allow users from technical and non-technical backgrounds to create and execute functional smart contracts on the Cardano blockchain.
One of the many goals of the Goguen phase is to create Plutus, a smart contract development language and execution platform using the functional programming language, Haskell.
Plutus is already launched for testing to bring the benefits of functional programming to the creation of smart contracts. It also gives room to one codebase to support on and off-chain components, improving the coherency and usability of the development experience compared with the smart contract implementations already in existence.
Moreover, the Goguen era also includes work to make Cardano accessible to larger users via Marlowe, giving room to financial and business experts with little or no technical knowledge to create smart contracts.