The Alonzo update of the Cardano network officially made it last night.
With this update, smart contract capabilities are coming to the network, and developers can now launch a host of new projects and applications on the network, such as decentralized finance (DeFi) platforms, non-fungible tokens (NFTs), and stablecoins.
Cardano founder Charles Hoskinson said it would be beneficial for the entire crypto-asset industry for the platform to launch its own smart contract era:
“We worked for a very long time. Some members of this team have been working for over four years. We did our job, we did our homework. We made hundreds of presentations and dozens of papers. So much code has been written that we put a lot of thought into creating a very new model that is useful everywhere, anytime, as an experiment that we think is the best industrial model for the industry.”
Hoskinson expects the next step for the ecosystem, including the release of a new version of the Plutus app with this important update:
“We will wake up on the morning of Monday, September 13. There will be lots of business as usual. The network will probably be under a lot more load because people are playing with and testing things and that’s fine. And a few weeks later, the latest and greatest version of the backend of the Plutus app will be released and it will be Cardano 2021 summit. And it will be a huge spotlight on the ecosystem as a whole. This will be a great event.”
Risk Disclosure: The articles and articles on Arover.net do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies.
