Cardano Confirms Launch Date For Smart Contracts Mainnet Upgrade
08 Septiembre 2021 - 06:00PM
NEWSBTC
Cardano’s developer IOHK has now confirmed smart contracts
capability is set to launch on the network on September 12th. The
long-awaited upgrade to the Cardano Mainnet will see the addition
of smart contracts capability to the network, which would open the
door to both developers and investors alike on the network. The
launch is scheduled for Sunday, only four days away. LAUNCH
CONFIRMED: Today, around 17:26 UTC we successfully submitted an
update proposal to the #Cardano mainnet, to trigger a hard fork
combinator event on Sunday 💪🙌 #Cardano $ADA 1/6
pic.twitter.com/rEtjrdGiBV — Input Output (@InputOutputHK)
September 7, 2021 Related Reading | Analyst Lays Out Theory
That Suggests A 290% Move In Cardano (ADA) Before Rally Is Over
Taking to Twitter, the developer shared with the wider community
that they had successfully submitted an upgrade proposal to the
Cardano Mainnet. This would trigger the hard fork combinator (HFC)
event that would take place on Sunday. “The Alonzo HFC event will
be the most significant upgrade yet, laying the firmest of
foundations for an exciting new era of smart contracts on Cardano,”
said the developer. Using the HFC technology will enable the
deployment of smart contracts capability with the core Plutus,
which will come will all compatibility upgrades across the entire
software stack. Testing has already been underway for the smart
contracts capability with trusted testers from previous upgrade
iterations. So far, the smart contracts are processing transactions
accordingly and developers have taken to building their DApps on
the platform. Gearing Up To Compete The final deployment will see
Cardano competing with other networks successfully operating in the
space. Going up against well-known smart contracts platforms like
Ethereum, and a new contender that has taken the market by storm,
Solana. Alonzo Hard Fork will bring decentralized finance (DeFi)
and decentralized exchanges (DEX) to the ecosystem, as well as
capabilities like being able to mint NFTs on the Cardano
blockchain. Effectively expanding the scope of use cases of the
network. Related Reading | New To Bitcoin? Learn To Trade
Crypto With The NewsBTC Trading Course The network ran into some
problems earlier when rumors started making the rounds on social
media that the smart contracts could only handle one transaction at
a time. But this was soon after cleared up by the developers, who
showed that the problem was not with the network, but rather with
the DApp Minswap. IOHK further encouraged developers to keep
testing on the network, adding that “this is what a testnet is
for.” Cardano (ADA) Price Reaction Cardano, like the rest of the
market, is still reeling from the flash crash which it experienced
yesterday. Although it has recovered from the lows of the flash
crash, the digital asset continues to struggle to find footing back
to positions before the crash. The announcement from Cardano’s
developer did not do much to push the price upwards, which has left
the asset trading around the $2.3 range. Putting it back down below
highs from May. ADA price struggles as market reels from crash |
Source: ADAUSD on TradingView.com At the time of writing, the asset
is trading at $2.38, down more than 9% in the last 24 hours. The
crash in its value has brought the total market cap of the asset
down to $76 billion. Although remaining the third-largest
cryptocurrency by market cap. Featured image from Ethereum World
News, chart from TradingView.com
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