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Cardano successfully launches Alonzo hardfork
has deployed Plutus Smart Contract functionality on mainnet. Cardano has forked its network to launch Plutus smart contracts. Cardano Implements Plutus Smart Contracts Cardano has entered a new phase of development following the launch of Alonzo on the mainnet. The hardfork took place on Sunday at 21:44 UTC in epoch 290 and introduced a brand new network. Alonzo saw Input Output, the core development team working on Cardano, integrating Plutus scripting for smart contract programmability. Over the past few months, Input Output has been continuously testing Alonzo in preparation for the hard fork. In fact, last year Cardano was, according to a report from...
Cardano successfully launches Alonzo hardfork
has deployed Plutus Smart Contract functionality on mainnet.
Cardano has forked its network to launch Plutus smart contracts.
Cardano implements Plutus Smart Contracts
Cardano has entered a new phase of development following the launch of Alonzo on the mainnet.
The hardfork took place on Sunday at 21:44 UTC in epoch 290 and introduced a brand new network.
Alonzo saw Input Output, the core development team working on Cardano, integrating Plutus scripting for smart contract programmability.
Over the past few months, Input Output has been continuously testing Alonzo in preparation for the hard fork. In fact, last year Cardano led the way in terms of the number of commits per month, according to a report from Outlier Ventures.
The Alonzo upgrade puts Cardano on the path to enabling a variety of new use cases such as DeFi. However, it will likely take some time for the network to host a thriving ecosystem of dApps, in part due to scaling issues.
Cardano-based decentralized exchange Minswap faced problems while testing smart contracts last week due to the network's concurrency issues. Concurrency issues have been attributed to Cardano's method of settling transactions, known as Extended Unspent Transaction Output (EUTXO).
Teams from projects like SundaeSwap, Maladex, and OccamFi have already started working on scaling solutions to achieve adequate concurrency for their dApps. When these solutions are implemented, it is hoped that the network will support a thriving DeFi ecosystem. Decentralized exchanges, launchpads and NFT marketplaces are expected to go live in the coming months.
Cardano's ADA token has seen a surge in recent weeks along with many other Layer 1 blockchain tokens. It is trading at $2.37 today, giving Cardano a market cap of $75.8 billion.
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