Alonzo upgrade and smart contracts: Cardano founder teasers release
Cardano founder Charles Hoskinson has been promising the community the introduction of smart contracts for a long time. Will the wait finally come to an end?
Cardano and the native crypto currency ADA were able to secure a permanent place in the top 10 crypto currencies on the market thanks to numerous promises and smart contract announcements.
The basis for this are probably the numerous improvements that have been made on the Roadmap of the project can be seen. So the current Goguen era is under the great sign of smart contract integration. According to his own statement, the goal of the current development steps is to open up the Cardano blockchain for developers and a less tech-savvy clientele.
However, until now there have been problems with the implementation. In his latest Youtube video However, Cardano founder Charles Hoskinson has finally promised his supporters to announce the release date on August 13, 2021.
Cardano starts with the last phase of the Alonzo upgrade
Cardano began onboarding users into the Alonzo Purple network at the weekend. This process marks the third and final phase of the Alonzo upgrades after the rollout of the Blue and White upgrades.
Particularly exciting: Alonzo-Purple will be the first official mainnet that will enable DeFi applications for users. Alonzo-White was previously reserved for a group of around 500 users.
With this, Cardano is taking the step towards smart contracts and decentralized finance.
Purple upgrade drives up ADA price
Smart contracts drive a variety of decentralized applications, such as NFT platforms, games, credit protocols or crypto exchanges. You have massively promoted the growth of multifunctional blockchains like Ethereum – no wonder Charles Hoskinson would like this feature for his own network as well.
The delayed implementation of key functions such as smart contracts was in the past rather a sore point for the large and otherwise enthusiastic Cardano community.
In his latest YouTube video, Hoskinson did not surprise his viewers with an official release date for the Alonzo hard fork, but promised to announce a date on August 13, 2021.
In any case, one thing is clear: with the start of the Purple upgrade and the announcement of the full introduction of smart contract support, the price of ADA has increased by more than 20 percent in the last 24 hours.
Cardano rate chart source: coinmarketcap.com
Bitcoin2Go says: Charles Hoskinson is known in the crypto community for his polarizing and sometimes bizarre statements. It’s no secret that he has teased upgrades and innovations in the past – but then left the users and those waiting in the rain. According to his latest video, however, the implementation of smart contract support seems within reach – and with the imminent launch, Cardano could meet its big competitor Ethereum almost on an equal footing.
