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Cardano price rises 15% on big partnership with PwC

Daniel Phillips


The price of Cardano (ADA) has just spiked 15% to reach over $0.051 following the announcement of a partnership with multinational accounting and consultancy firm PricewaterhouseCoopers (PwC). The surge in price has pushed the cryptocurrency into the top 10 coins by market cap.

Charles Hoskinson, CEO of IOHK—the main development firm behind Cardano—revealed the main details of the partnership in a live stream yesterday.

He said that PwC will consolidate information from IOHK, the Cardano Foundation and Cardano's business arm, Emurgo, to build a commercial strategy for the blockchain project. As it stands, further details on the partnership are scant, but PwC will be holding a  multi-day workshop at a later date where the firm will unveil the strategy it will use to promote Cardano adoption to mainstream businesses.

Cardano bolsters science focus with new commercial strategy

The recent update also hinted at plans to address some of the issues users are facing with the Shelley Incentivized Test Network—the latest version of Cardano.

The main problem is that it was built using Rust, a programming language that favors efficiency over usability. Instead, the next testnet release will be built on Haskell, which developers might find easier to use. That is, if they're not distracted by the rising price.