Cardano Alonzo upgrade is now live on the mainnet.
Read: In Last 3 Months Cardano Adds Over 200,000 New Staking Addresses
The wait is finally over. After years of researching and producing a multitude of peer-reviewed papers on the network’s structure, potential, ideas, and goals, Cardano now has smart contracts capabilities to further boost its ecosystem.
1/2 Upgrade successful.
Moments ago, we deployed the #Alonzo upgrade at the epoch rollover.
Welcome to the start of a new era for #Cardano $ADA pic.twitter.com/r6QNvTv4pt
— Input Output (@InputOutputHK) September 12, 2021
As of now, Cardano saw an important hard fork go through, and Alonzo is now live on the mainnet. What this means is that the network supports smart contracts, enabling various teams and projects to start building and deploying their protocols directly on Cardano.
Cardano said in a blog post:
“This is where the mission truly begins as we – the whole community – start delivering on the vision we have all been working towards for so long. Building a decentralized system that extends economic identity and opportunity to everyone, everywhere.”
The Alonzo fork enables smart contracts to be written on Cardano using Plutus scripts, which the team describes as “a purpose-built smart contract development language and execution platform using the functional programming language Haskell.”
The team has encouraged its community to maintain sensible expectations for Alonzo, stating:
“There are high expectations resting on this upgrade. Some unreasonably so. Cardano watchers may be expecting a sophisticated ecosystem of consumer-ready DApps available immediately after the upgrade. Expectations need to be managed here.”
Cardano is a public blockchain that was founded by Ethereum co-founder Charles Hoskinson and developed by his research firm IOHK.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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