Cardano Announces that the Smart Contract Launch Date will be Confirmed on Friday

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Cardano Announces that the Smart Contract Launch Date will be Confirmed on Friday
Cardano Announces that the Smart Contract Launch Date will be Confirmed on Friday

Cardano founder and IOHK CEO Charles Hoskinson said the long-awaited Cardano smart contract will be launched on the date announced on Friday. The date will be before the 2021 Cardano Summit when participants will be registered online.

He pointed this out in a video podcast on Tuesday;

I just wanted to make a very quick video telling you guys a few things, so we had our big meeting today and we kind of went through where we’re at the progress with smart contracts,

We had a lot of discussions with partners and other people and it looks like we are on track for Friday to announce the date. We feel very comfortable with the date and I think it is a very achievable date and I think the community is going to be quite happy about it.

Growth of the Cardano Network

Cardano (ADA) was founded in 2015 and has since developed into a highly researched, peer-reviewed network and the fifth-largest blockchain platform in the world. The network is now ready to launch its smart contract, which will allow developers to build and run DApps on it. This development is significant as it not only drives network innovation but also increases the number of community members.

Last week Cardano’s parent company IOHK announced the Alonzo Purple Testnet as the first public testnet. All stock pool operators, members of the Plutus Pioneer Program and exchanges can now participate in the Testnet. IOHK is also preparing cryptocurrency exchanges for Alonzo HF to ensure ADA trading is not interrupted after the hard fork.

In response to the smart contract announcement, ADA has increased 20% in the past few days. According to Coingecko, the ADA transaction price at the time of writing was $1.82 per token, which is a 3.4% increase in one day. The market value of ADA is now $57 billion and reached $38.9 billion in less than a month.

In addition, according to experts at Santiment Analytics, developer activity on the web has also increased. This is because Alonzo Purple is completely open to developers. The previous Alonzo Blue and Alonzo White were limited to 50 users and 500 validators, equity pool operators and developers.