smart contracts arrive at the end of August / beginning of September

The slow path from Cardano (ADA) to smart contracts

IOHK, the entity that manages Cardano, shared the latest advances in smart contracts in a Twitter post published at the end of last week. The final phase of “Alonzo”, the process that enables the integration of smart contracts, is indeed underway. The Alonzo Purple testnet allows you to test these new features on Cardano:

“Alonzo Purple will be Cardano’s first public testnet that will support smart contracts. “

IOHK has also confirmed that smart contracts will arrive on the main network in the coming weeks:

“The arrival of smart contracts on the Cardano mainnet targets the end of August or the beginning of September. “

👉 More info on the Cardano project (ADA)

Exchanges that have been solicited

A team specifically dedicated to Alonzo Purple will meet today, and the Cardano network will then hard fork. This will mark a new milestone: any developer who wishes can then join testnet.

IOHK also confirms that it is in contact with exchanges so that the integration is done in the most flexible way possible:

We want to ensure as many exchanges as possible are ‘Alonzo HF-ready’ when we hard fork the network, to ensure that their customers maintain uninterrupted deposit / withdrawal access to their $ ada and do not have to wait for this to be sorted out afterwards.

– Input Output (@InputOutputHK) August 6, 2021

“We want to make sure that as many exchanges as possible are ready for the Alonzo hard fork […], to make sure customers maintain access to their ADA deposits and withdrawals, and don’t have to wait. “

ADA course continues to progress

The price of the ADA has been on an upward trend since the end of July. He thus took + 25% over the last two weeks:

ADA Cardano course

Source: TradingView, ADA / USDT

Over the last 24 hours, however, the price of ADA has fallen by -5%. Its current capitalization is $ 45 billion, which places altcoin in the 5th place of the most capitalized cryptocurrencies of the moment.

👉 To read – Grayscale adds Cardano (ADA) to its fund dedicated to large caps

Newsletter 🍞

Receive a recap of crypto news every Sunday 👌 And that’s it.

What to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliate. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus using our links.

Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and cannot be held responsible, directly or indirectly, for any damage or loss caused as a result of the use of a good or service highlighted in this article. Investments related to crypto-assets are risky by nature, readers should do their own research before taking any action and invest only within the limits of their financial capacity. This article does not constitute investment advice.

About the author: Marine Debelloir


Deputy Editor-in-Chief on Cryptoast, I fell into the pot of cryptocurrencies a few years ago. I am passionate about the innovative technologies that arise from the blockchain and I like to find the most delicious information to share with you.
All articles by Marine Debelloir.

Back to top button