Cardano’s Alonzo hard fork has been completed, bringing Plutus-powered smart contract scripts to the network.
As of epoch 290, smart contracts can now be created and executed on the public blockchain, according to IOHK.
Despite the success, Cardano claims that the project is still in its early days and that the goal begins now.
They stated that when the entire community began to embrace the long-awaited goal, the mission truly began. It is creating a decentralized system that benefits everyone and everywhere.
Plutus scripts are “a purpose-built smart contract authoring language and execution platform leveraging the functional programming language Haskell,” according to the developers.
The team has encouraged the community to have reasonable expectations for Alonzo, despite the fact that high expectations lie on this improvement. Some wildly so. Hopefully, the upgrade will bring a mature ecosystem of consumer-ready DApps. We must handle prospects.
Cardano
Ethereum co-founder Charles Hoskinson and his research firm IOHK created a public blockchain called Cardano. Cardano launched in September 2017 and promised to compete with Ethereum in hosting decentralized finance (DeFi) and Web 3.0 operations.
Dominic Williams, the inventor of competing platform Internet Computer, slammed Cardano for taking two years to create smart contracts, saying it shocked him that this chain had been in the market for two years. Moreover, this just adds support for smart contracts, which pleased many.
As of early September, Cardano’s first decentralized application (DApp) on its testnet had difficulty with concurrent transaction processing.
Six years of “peer-reviewed” research and a $90 billion market cap later. The first Cardano dapp can’t even do concurrent transaction processing (aka DeFi),” tweeted Ethereum maximalist Anthony Sassano.
Token ADA rose 192 percent from a low of $1.06 in late July to $3.10 on September 3, according to CoinGecko. ADA is up almost 1600% since the start of 2021. However, ADA has now plunged to a week-long range of $2.30 to $2.80, indicating that many speculators bought the rumor and sold the news.
