Input-Output Hong Kong (IOHK), the development team behind Cardano, announced that the smart contract upgrade will be released on the public testnet on September 12th. The company announced on Twitter on Sept. 7 that a Cardano update called Alonzo is set to cause a hard fork all weekend.
Alonzo Hardfork: Cardano’s Biggest Upgrade So Far
Alonzo is an important step forward for Cardano and brings smart contracts into a network that has been in development for many years. This is one of the biggest upcoming upgrades that can make the network a real competitor in the decentralized application (dApp) space.
IOHK called Alonzo “the most important upgrade to date”. Cardano itself has long been considered a competing network of Ethereum, but the methodical and leisurely pace of development has only prepared the platform for this.
Many people believe that smart contract upgrades will be very important, which is understandable as they open up a world of dApps. Vitalik Buterin shared his views on Cardano and said that it does some interesting things.
The core function of the smart contract from Plutus is provided with the HFC technology from Cardano, accompanied by compatibility upgrades. The Cardano team will host a live broadcast to talk more about Alonzo and the future of development.
Cardano’s ADA token did well before Bitcoin’s price jumped over $50,000 this week. Driven by important development milestones, it is still one of the best in 2021. With Cardano’s current upgrade plan, the outlook for the asset looks good.
Cardano is Progressing Smoothly
Cardano’s roadmap is known for its attention to detail and meticulousness on its development path. The development is divided into different epochs named after famous thinkers and poets. In the current era, Goguen is focused on smart contracts.
The future era of Basho and Voltaire will be one of governance, expansion, and technological improvements. These will probably only start development very late. However, given Cardano’s track record, the project is progressing smoothly.
Recently Cardano announced it would launch an ERC-20 converter to transfer assets between Ethereum and Cardano. The tool will be launched on the testnet first, but it is clear that the project is taking a very robust approach to ensure a successful upgrade. As for the network, Cardano has more than 650,000 staking addresses as of July.
Of course, the expectations of Cardano are high. The real field test is carried out after the start of the smart contract and an indication of the usefulness of the network should be given.