Charles Hoskinson confirms that Cardano ($ADA) would run smart contracts immediately after the hard fork

Cardano (ADA) founder Charles Hoskinson has announced that smart contracts would be available on the cryptocurrency's network following the Alonzo hard fork, adding that the architecture on Cardano will only improve over time.


During a live-streamed update, Hoskinson clarified that there are two parallel tracks leading up to the hard fork: the combinator event, which will give the node "Alonzo capabilities," and the "infrastructure around that node, which allows you to run both off-chain and on-chain code and build full dapps [decentralized applications]."


Hoskinson also stated that the hard fork infrastructure will be built “in the August-September time frame,” which means that Cardano users will be able to “run smart contracts the moment the hard fork comes on Cardano infrastructure, building an increasingly better environment for Cardano apps to be developed and deployed on.”

The Cardano founder stated that the sophistication of what people will create on top of Cardano will only improve with time, but that because there are so many integration partners involved, the upgrade would be done in stages to avoid causing damage to the infrastructure. Nonetheless, smart contracts will be executable immediately following the fork.

Last month, the famous Yoroi wallet from Cardano released a decentralized application connector that would make it easier for users to engage with smart contracts and these applications once they are live on the Cardano network.

The Alonzo hard fork is part of the network's "Goguen" era, which is named after Joseph Goguen, a computer science professor at the University of California and the University of Oxford. After the Shelley phase, when Cardano became a decentralized blockchain and community members became validators, the Goguen age began.

Blue, white, and purple will be the first three phases of Alonzo's release. Until the upgrade's full integration is complete, each opens up more to the public. As Hoskinson pointed out, there's no need to "walk through the whole rainbow" because the hard fork will be the foundation for future improvements.

On the Cardano network, some decentralized platforms are already preparing to go live. Cardax, the first decentralized exchange slated to run on it, just completed its first community sale, raising $1.5 million.

Cardax plans to deploy major features that will allow users to earn as liquidity providers from the fees the exchange collects, trade ADA with any native token using the Yoroi Cardano wallet, and trade in single transactions, in addition to native support for native tokens on Cardano.

Share:

No comments:

Post a Comment

Note: only a member of this blog may post a comment.

Hot Topic

Did the Ethereum Merge Go Wrong?

Ethereum is in a state of instability as a result of the merger. Was it all worth it? Some Ethereum supporters aren't so certain. What a...

counter, at the bottom of the page, in a table, div or under a menu.