Crypto Cardano (ADA) Becomes Ethereum's No. 1 Killer, Its Smart Contract Can Run DeFi, NFT, And DApps

JAKARTA – Soon crypto developer Cardano (ADA) will launch its smart contract on September 12 tomorrow. These smart contracts can be used to run DeFi decentralized finance, decentralized applications (dApps), and Non-Fungible Tokens (NFT). Cardano has succeeded in displacing Binance Coin (BNB) from the top 3 largest cryptocurrencies in the world by market capitalization.

Of the many crypto coins that are touted to be the 'ethereum killer' including Solana (SOL), Polkadot (DOT), Terra (LUNA), Algorand (ALGO) and so on, of all of them, only Cardano crypto is in first place against the domination of the Ethereum giant with exciting developments and projects.

Launching Bitcoin.com, Ethereum is currently the largest smart contract platform. Ethereum has been at the top in recent years. A number of other coins such as ADA, SOL, DOT, LUNA, AVAX and many more are trying to outperform ETH.

Ethereum's high gas fees have caused investors to look to competing smart contract platforms, which can offer more affordable fees and faster transaction times than ETH offers.

In the future, Cardano is expected to continue to improve its performance by presenting functional smart contracts. The upgrade that will be implemented on Sunday, namely the ability of smart contracts to be in the previous version of Alonzo, this time the smart contract will be implemented massively.

In this Goguen phase, the Cardano community will be able to see 'smart contract integration' that can enable the ability to build dApps. Then the network will be even more massive with the ability for DeFi, NFT, and various other dApps.

For information, the Alonzo upgrade is part of the Cardano roadmap which is divided into 5 eras namely Byron, Shelley, Goguen, Basho, and Voltaire. Today is Cardano in the Goguen era. The Cardano development team has been working on a parallel Goguen phase after the Shelley era ended.

"With the integration of smart contracts, the Goguen era represents a major step forward in Cardano's network capabilities," the Cardano team wrote in a statement on its website.

"Where the Shelley era decentralized the core of the system, Goguen added the ability to build decentralized applications (dApps) on Cardano's strong foundation for peer-reviewed research and development with high assurance."

According to data from Outlier Ventures regarding blockchain technology development in the second quarter of 2020 and the first quarter of 2021, Cardano's development takes the top spot out of the rest. Comparing Cardano and Ethereum developments, ADA has 165 developments while ETH has 168.

It is worth waiting for the implementation of the Cardano smart contract which will be launched on September 12 tomorrow. In addition, Cardano is also rumored to be holding a big event, namely a meeting of the worldwide ADA community in the near future.