Cardano Officially Runs Alonzo's Hard Fork, Here Are The Advantages

Crypto Cardano successfully launches smart contract (photo: Forextoolstrader)

JAKARTA – The official Cardano (ADA) crypto developer can upgrade the Alonzo hard fork. The update brings smart contract capabilities that allow developers to build decentralized applications (Dapps), decentralized finance (DeFi), non-fungible tokens (NFT), as well as stablecoins on the Cardano network.

Quoting Bitcoinist, Cardano founder Charles Hoskinson revealed that the era of smart contracts will have a positive impact on the cryptocurrency industry in the world.

“We worked very long. Some members of this team have been working for more than four years. We do our job. [We did] our homework. We did hundreds of presentations, dozens of papers,” said Hoskinson.

To achieve smart contracts, the Cardano development team is said to have written a lot of code, and a lot of thought was put into developing a new model that can be used everywhere.

"So much code has been written and so much careful thought went into building very new models that are useful everywhere, if any, as experiments for industry [which] we feel is the best industry model," he added.

With the launch of smart contracts on the Cardano network, Hoskinson is looking forward to the impact it will have on the ecosystem including the Plutus app backend which is claimed to allow users to build projects on top of the Cardano network.

“So that was the day, and you know what happened? There must be the morning after, September 13, Monday. We wake up. It's business as usual. Many things will happen. [The] network will probably be under a lot more weight because people are playing around with things and testing things out and that's fine."

“A few weeks later, the latest and greatest version of the Plutus app backend will be released and we will have a summit [Cardano 2021]. And there will be a big spotlight on the ecosystem as a whole. It will be a great event,” said the Cardano crypto founder.