Find out when smart contracts will start rolling out on the Cardano blockchain
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Answer Find out when smart contracts will start rolling out on the Cardano blockchain
Charles Hoskinson, founder of Cardano and CEO of IOHK, revealed at the conference:Cardano 360Yesterday, the default was that Alonzo’s update and testing, which will bring the smart contracts feature to the Cardano ADA blockchain, could start working as soon as possible.
Most likely, it will be launched at the end of next April.
He told Hoskinson that the testnet would be launched at the end of April or early May, and added:
For the first time ever, people will be able to openly write smart contracts and publish them on Cardano.
Cardano Smart Contracts: Tonight # Cardano 360 Share with us a plan # smart contracts on me #cardano. Here’s more about #alonzo roadmap from Tweet embed. We’ll be bringing you more clips from the show all next week, so stay tuned Tweet embed 👍 pic.twitter.com/q2bWK1TZQx
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– InputOutputHK March 25, 2021
According to the revealed launch plan, Alonzo’s upgrade will come in split form this spring.
Initially, smart contracts will only be available for testing purposes, but with the launch of the entire mainnet in August 2021, smart contracts will be 100% operational.
Cardano’s ambition to get a slice of the DeFi pie:
The addition of smart contracts is a milestone for Cardano, as it will eventually make the Cardano blockchain a viable competitor to Ethereum.
Since last summer, Decentralized Finance (DeFi) projects have thrived on the Ethereum blockchain, with a wide range of decentralized applications (dapps) built mostly on smart contracts.
Now, the same job comes to Cardano.
According to DeFi Pulse, the total value booked in DeFi is currently nearly $40 billion.
Meanwhile, major platforms such as MakerDAO, Compound, Aave, and many other projects all rely on Ethereum smart contracts.
With the launch of the Alonzo upgrade, the Cardano blockchain will be able to expand into this multi-billion dollar market.
In early March, Mary launched the Cardano blockchain upgrade, bringing Cardano much closer to Ethereum, by offering users the ability to create custom tokens.
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The “Mary” upgrade turned Cardano into a multi-asset network that can support many different types of cryptocurrencies.
Ethereum transaction fees are on the rise:
Average Ethereum transaction fees recently soared to a new all-time high, reaching nearly $43 on February 23, data shows.Bloxi chair“.
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It has fueled ongoing debates about whether using expensive Ethereum is worth staying on, especially with competitors like Cardano promising smart contracts and lower transaction fees.
Competition is expected to intensify and all in the interest of the end user.
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