Cardano Prepares To Launch Smart Contract On 12 September Tomorrow, Can ADA Prices Skyrocket Again?

Cardano (ADA) will soon launch smart contract on 12 September tomorrow (Euronews)

JAKARTA – After much anticipation, Cardano (ADA) is finally reported to be launching its Smart Contract platform, Plutus, on Sunday 12 September tomorrow. This has been confirmed by the Global Input-Output (IOG) developer in a Twitter tweet.

According to Bitcoinist, the company has submitted an update proposal at around 17:26 UTC. This is likely to trigger the third and final Hard Fork Combnator (HFC) event for Cardano to fully implement smart contracts.

The Alonzo HFC event itself is the most significant upgrade and the strongest foundation in the Cardano smart contract era. Later Plutus will implement a unique HFC technology so that it can be integrated with Cardano.

The developer would like to thank the community and partners who have provided support so that the final Plutus trial phase can be completed.

"We are on our way. Remember, this may be the end of a long journey. But this is the start of an exciting new phase in our development as a smart contract network. We'll have a lot to share over the next few months as our exciting ecosystem continues to grow."

With the completion of the final phase, the Cardano developers will reportedly celebrate this achievement by hosting a Livestream on Sunday tomorrow. During the event, the development team will share more in-depth information about Plutus and its potential, as Cardano prepares to hold a global Cardano summit.

However, negative rumors about Plutus are starting to emerge. Social media users such as Reddit and Twitter said that Cardano was unable to process appropriate transactions to maintain smart contracts.

However, the rumors did not surprise the founder of Cardano, Charles Hoskinson. The reason is that this negative assumption has the same pattern when it launched the Shelley upgrade last year. Hoskinson confirmed that September 12 tomorrow is a big day for developers and the Cardano community around the world.

“As expected, there is a major FUD storm underway. We saw the same thing with Shelley last year. This is nothing new. Only people who want to burn what they don't understand or feel threatened. September 12 is a big day, but only one day in the long journey we are all on together," Hoskinson said.

At the time of writing, the price of the crypto asset Cardano (ADA) is trading at IDR 36,805. ADA has increased by 16.3 percent in the last 24 hours. ADA's all-time highest price was at the level of Rp44,031 which occurred on September 2, 2021, as reported by data from Coiningecko.