From what we can tell, the Alonzo Purple upgrade will be a public testnet for the massive smart contract integration.
This occurred during the exciting conclusion of Cardano’s Alonzo updates collection.
This was the first public testnet for smart contracts on the fast-growing Cardano ecosystem. The testnet will house approximately 150 inventors and graduates of ADA’s Plutus Settlers graduate program. Once this team integrates, the testnet will be fully public. The news spreads via a series of tweets from the Input Output Hong Kong (IOHK) research and development business.
Being a considerably sizable upgrade as ADA competes towards the massive Hard Fork Combinator (HFC) event. The smart contract integration started by Alonzo Purple will mark a major milestone in the series of well-nigh accomplished Alonzo updates to the fifth-largest cryptocurrency.
In August 2021, IOHK founder Charles Hoskinson outlined the Alonzo plan on his YouTube channel. The tweets confirmed that the team is on track with the roadmap. The Alonzo White hard fork update stirred controversy as they pushed through their Cardano 2025 roadmap.
ADA Team completes upgrades
To date, the ADA team has completed the blue and white upgrades on its Alonzo launch roadmap. Alonzo purple is the bottom-most stage in their updates and the center on smart contracts.
The final element in the roadmap concentrated on network scalability and network administration vernacularly called Alonzo red and black. The roadmap’s third section focused on network scalability and administration, dubbed Alonzo red and black. After the modifications are complete, the Mainnet will release via a hard fork combinator event, transitioning the Cardano Mainnet from the Mary period to the new Alonzo period.
Real smart contracts and dApps with real ADA and other tokens will then be possible. Charles Hoskinson remarked that the ecosystem’s progress over the last year has been phenomenal, and smart contracts are almost here.
A great advancement by the ADA team has led to it becoming one of the most popular crypto assets, especially after a bullish market week. More than 650,000 staking demeanors records last month, a year-on-year increase. The projected amount of staked ADA is $29 billion, or 70% of the total supply.
Cardano was also highlighted by numerous analysts as a coin with significant future upside potential, according to Charles Hoskinson.