According to the blockchain research and engineering company Input Output Hong Kong (IOHK), Cardano has entered the “last, critical phase” before the much-noticed Alonzo upgrade of the platform.
IOHK has submitted an upgrade proposal to the Cardano test network to “branch the chain into the Alonzo era,” according to a Twitter post from the company.
The developer of Cardano (ADA) says it is still aiming for September 12th for the upgrade, which aims to bring intelligent contract functionality to the blockchain via a “Hard Fork Combinator (HFC) event”.
According to IOHK, the development is a “major milestone” for the platform.
“In the coming days we will be doing final checks and tests in a controlled environment to make sure we are ready to update Cardano’s main network. And usher in a transformative era of smart contracts. “
According to Dimitris Poulopoulos, a project manager at IOHK, until September 12th, the window will allow the company to identify and fix issues before the mainnet launches, while the network is monitored to confirm stability.
Cardano’s native asset ADA soared on Friday as the crypto market rebounded from a midweek correction. At the time of writing, the third-placed crypto asset by market cap is trading at $ 2.87 and is up 13.7% in the past 24 hours, according to CoinGecko.
ADA hit its all-time high of $ 2.95 on Monday.
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Featured image: Shutterstock / O-IAHI
