Path to Sensible Contracts: Cardano (ADA) Alonzo White Onerous Fork efficiently accomplished – bitcoinist.com
Cardano (ADA) recently announced that it had successfully carried out the Alonzo White Hard Fork. A tweet posted on Twitter confirmed that the network is now successfully blocking. And so far there had been no problems with the hard fork.
The hard fork is the next step in bringing the Cardano network closer to compatibility with smart contracts. The project has been in progress for some time. And it is speculated that the network will be able to fully support smart contracts by September 2021.
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The development team behind the Cardano project has announced that they will review feedback and results. Then start addressing any required fixes on the network.
We will be closely monitoring the new network for the next 24 hours and doing more QA work on the node tonight. We will then review all feedback / results tomorrow and address any necessary corrections. We expect a number of updates as we add #AlonzoWhite 4/5. Add functions
– Input output (@InputOutputHK) July 14, 2021
Next phase of the rollout plan
The introduction of Cardano Alonzo has been divided into several parts, each of which is shown in color. So far, Alonzo Blue and Alonzo White have been used successfully. And the team remains confident of staying on course with the remaining stages.
After the successful completion of the Alonzo White Hard Fork, the project will move to Alonzo Purple. This part of the rollout will be split into two parts. Alonzo red and Alonzo black.
The success of these sub-steps will determine whether the Alonzo rollout will continue in the next phase. This will be the staging for the complete move to the Alonzo Mainnet.
The ADA price continues to struggle after the hard fork | Source: ADAUSD on TradingView.com
The Alonzo Blue hard fork had given a few users intelligent contract functions. Alonzo White Hard Fork gave an even greater number of these skills. Approximately 500 users received the function and became validators in this test network. And so far everything has worked fine.
After that, Alonzo Purple will most likely see more users who have the option. As the network gets one step closer to enabling smart contracts.
What the Alonzo Mainnet means for Cardano
The switch to the Alonzo Mainnet gives Cardano the opportunity to support smart contracts. This, in turn, will help it compete with other DeFi ecosystems like Binance and Ethereum.
The move to the mainnet means the project will become a strong competitor for Ethereum. The number 1 decentralized financial ecosystem in this area. But that can’t take long.
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Cardano would be able to do everything Ethereum is currently doing, only faster and cheaper. Cardano is already the project with the highest number of coins used. With over 70% of its range of coins currently in use by its holders.
ADA price movements
Since the announcement, the price of the Cardano coin ADA has remained sluggish. The price of the coin had gained some momentum on the day of the announcement. Change from $ 1.20 to $ 1.28. But has now fallen behind in tandem with the rest of the crypto market. And the price keeps dropping.
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Even so, the holders remain positive about the future of the coin. Switching to the mainnet would mean more functionality for the coin and the blockchain.
Cardano (ADA) is currently trading at $ 1.045 and is down 10% over the past 24 hours.
Featured image from CoinShark, chart from TradingView.com