Successful deployment for the Alonzo hard fork of the Cardano blockchain. Smart contracts are therefore now available. The price of ADA does not climb, however.
It was the big meeting of the Cardano blockchain. Since September 12, Alonzo is therefore in production on the mainnet. This hard fork provides Cardano with a major feature: smart contracts.
The blockchain now has a function that has made the success of the leader in decentralized applications and DeFi, namely Ethereum. The imminence of the launch of Alonzo was also strongly pulling the course of the ADA.
High expectations from Cardano
Cardano’s native token climbed to $ 3 and propelled the cryptocurrency to third place in the rankings, just behind Ethereum. The activation of Alonzo, on the other hand, did not benefit the ADA award.
The hard fork effect had been widely anticipated and already integrated into Cardano’s valuation. The ADA even ended the week on a 15.78% drop, according to CoinMarketCap. Over 24 hours, the decline is around 5% to 2.43 dollars.
The arrival of smart contracts marks the start of a new stage for Cardano. He now has to develop a real ecosystem of Dapps to truly compete with Ethereum. Especially since other blockchains, like Solana, are not inactive either.
The future of the ADA price will therefore largely depend on the adoption of Cardano by blockchain services. The creators of Cardano are well aware of this. ” This is where the mission really begins, as we – the whole community – begin to realize the vision that we have all worked for so long. », They admit.
Their objective now is therefore to ” build a decentralized system that extends identity and economic opportunities to everyone, everywhere. But be careful, they warn, the creation of this ecosystem will not happen overnight.
The Cardano ecosystem will take time
The creators of Cardano therefore warn of excessive expectations – and the disappointments that could come with it. These expectations are in fact likely to significantly affect the price of ADA over the coming months.
“There are high expectations for this upgrade. Some are unreasonable. Cardano watchers may be expecting a sophisticated ecosystem of DApps ready for consumer use and available immediately after upgrade. Expectations must be controlled, ”they recall.
Cardano’s rivals won’t give them freebies! The developers of the blockchains were able to show a certain slowness in functionally enriching the network and finally endowing it with smart contracts.
“It amazes me that this channel has been on the market for 2 years, and that it only adds support for smart contracts, and that people are happy with this progress,” quips Dominic Williams, founder of ‘Internet Computer.
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