Cardano Aims To Facilitate Users With Smart Contracts
July 24 2021 - 01:00PM
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According to the announcement from IOHK, “Project Alonzon testnet”
has moved from Blue to White and is making it possible for Cardano
to launch smart contracts. IOHK is the development team of the
Cardano blockchain. The team made the announcement recently,
revealing that the testnet is successful. Related Reading | Anthony
Di Lorio To Leave Cryptocurrency Space For Philanthropic
Initiatives In their announcement, the development team shared the
success of the “#Alonzon testnet” fork to a new version,
“#AlonzonWhitenode.” The announcement also disclosed that the
latest version has commenced making blocks immediately. HARD FORK
SUCCESSFUL: Delighted to report around 19.44 UTC today we
successfully forked the #Alonzo testnet to the new #AlonzoWhite
node. The new network is happily making blocks already. 1/5 — Input
Output (@InputOutputHK) July 14, 2021 This new fork is taking the
network a step further to launching smart contracts, which will be
beneficial for its users. Cardano Testnet Had Limitations The first
Cardano testnet may have offered smart contracts, but there were
some limitations. The smart contract features it had were only for
some people who are core insiders of the blockchain. Related
Reading | Ether EFT Gets Approval From Brazilian Securities
Regulator Given the upgrade that the team has announced, the
network can now accommodate up to 500 validators, developers, and
stake pool operators who will test the features. According to the
announcement, the new Fork “Alonzon white” will run for 2 to 4
weeks. Then, it will upgrade to the Alonzo Purple, which is the
final testnet for this current phase of its development. Before
now, there has been some backlash against the network from the
community. However, even with all those issues, the Cardano
blockchain founder Charles Hoskinson assured the community that the
project is moving as they planned it. He made this statement on
Youtube, saying that the team is following the roadmap they set
earlier for the project. Hoskinson also noted that Cardano had
facilitated the sale of over $10 million worth of NFTs on its
network. Also, apart from the NFTs, the founder mentioned that the
network had facilitated assets sales worth tens of thousands. The
ADA market is flourishing after a hectic week of trading in the red
zone | Source: ADAUSD on TradingView.com He continued to assure the
community that the release of Alonzo White to the Cardano mainnet
will enable developers to launch NFTs, dApps, and other projects.
More Developments in DeFi After the announcement of the Alonzo
white fork, a DeFi and NFT marketplace, Spores Network disclosed
that it had raised a whopping $2.3 million through its fundraising
event yesterday, July 16, 2021. According to the company, it plans
to utilize the best features of Cardano, such as low transaction
costs, higher transaction throughput, and low carbon footprint, to
make NFTs available for mainstream users. Related Reading
| Nifty’s Inc. Partners With Warner Bros To Roll Out A Social
NFT Platform In recent times, more and more artists and companies
are joining the NFT market. Some notable ones include Dolce &
Cabbana plus Sorare, a “fantasy soccer NFT platform.” In addition,
Sorare recently closed a $532M in a funding round. All these
interests and collaboration mean more gains to the Cardano network
and the people who use it. Featured image from Pexels, chart from
TradingView.com
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