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HomeNewsCardano is ready for the Alonzo hard fork

Cardano is ready for the Alonzo hard fork

  • Input Output Hong Kong initiated the Alonzo Hard Fork in the Cardano Mainnet, the Smart Contract functionality will be activated on September 12th.
  • Dogecoin millionaire Glauber Contessoto is preparing to go “all in” on Cardano and wants to become ADA’s biggest supporter.
  • Cardano DeFi should become a reality with compatibility upgrades across the software stack.

95% of the users of Polymarket, a global platform for information markets, rely on the introduction of Cardanos Smart Contracts. At the beginning of August that number was still 65%, but now Cardano is ready for decentralized applications and the DeFi summer.

Alonzo Hard Fork enables the start of smart contracts for Cardano

IOHK, the blockchain company behind Cardano, has announced that the Alonzo Hard Fork Combinator Event has successfully started. This is an important milestone for ADA as it brings DeFi to Cardano’s blockchain.

LAUNCH CONFIRMED: Today, around 17:26 UTC, we successfully submitted an update proposal to the #Cardano Mainnet to kick off a Hard Fork Combinator Event on Sunday #Cardano $ ADA 1/6

– Input Output (@InputOutputHK) September 7, 2021

IOHK wrote on Twitter:

We are on our way. Please remember that this may be the end of a long journey. But it is the beginning of an exciting new phase in our development as a #smartcontracts network. We’ll have a lot to say over the coming months as our exciting ecosystem continues to grow.

The start of Cardano’s smart contracts in the test network was heavily criticized because of simultaneity problems. MinSwap, the first decentralized exchange to test functionality, raised concerns and stated that only one user could interact with the protocol at a time. This has led to speculation that the Cardano upgrade won’t support dApps in the same way as Ethereum does.

However, IOHK has since addressed the issue and has assured users and the community that Cardano has taken a novel approach and has successfully applied a different operating mechanism to circumvent the challenge.

The users on Polymarket again showed confidence in the altcoin and the introduction of the smart contract functionality. 95% of the participants answered the question “Will Cardano support smart contracts in the mainnet by October 1, 2021?” put on Cardano. That number is up 46% since last month.

Glauber Contessoto, a Dogecoin millionaire, is preparing to go “all in” on Cardano and plans to become ADA’s biggest supporter. Contessoto said:

From now on I will buy as much Cardano as I can with every bit of money I make.

Mark Cullen, Managing Director of Alpha | DLT predicts ADA may drop to $ 2 in the ongoing correction.

– $ ADA UPDATE / Chart Request –

Well, that held up well
I believe we will still hit the $ 2 target before this correction is complete

– Alpha | DLT (Mad Banana # 6756) (@mark_cullen) September 8, 2021

FXStreet analysts are bullish and expect ADA to hit a new all-time high once it breaks the $ 3 mark.

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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