Alonzo Fork Is Set to Go Live on Cardano’s Mainnet
After several months of anticipation, Cardano’s Alonzo hard fork will be coming to the mainnet on September 12, 2021. Here are all the tidbits you need to know before it makes its monumental upgrade.
The Alonzo hard fork date and time of the release for the anticipated launch were revealed via tweets from the official twitter handle of Input-Output Global, the research firm behind the development and maintenance of Cardano.
Smart Contract Milestones a Breath Away
Executives at IOG believe the current Cardano network is about to receive “the most significant upgrade yet”, creating a strong foundation for what is termed “an exciting new era of smart contracts on Cardano”.
After Input-Output’s HFC event is triggered on Sunday, Cardano users will be able to deploy their smart contracts. This will be the last step in a series of stages preceding Alonzo’s mainnet launch. In order to ensure they could provide a great user experience alongside quality security, Cardano’s development team carried out five color-coded testnet launches. The last phases of Cardano’s mini color-coded roadmap were markedly successful, as Alonzo Red and Alonzo Black all deployed without any hicks, while ADA’s price received a resurgence, recording an ATH in the process.
With each phase launch, Cardano’s development team tested and confirmed that particular aspects of the entire update were in proper working condition. Despite a few hushed concerns in skeptical camps in the past weeks, Cardano’s mainnet launch is expected to go on with aplomb.
It’s launch is also not just anticipated by ADA devotees, but by major mining pools as well, who have begun preparing for Alonzo’s transition from the testnet to the mainnet. As of time of writing, according to a pool resource Pooltool, an estimated 82% of the mining pools in the Cardano network have been prepped for Alonzo which means they are now functioning on Alonzo 1.29.0 – the latest version.
The Alonzo hard fork countdown has begun!
Cardano Post Hard Fork
With features such as blockchain games, NFT minting, and the ability to launch DeFi apps, it appears Cardano might be on the path to stepping up its competition with Ethereum, which currently leads and defines the DeFi industry.
Cardano’s Alonzo upgrade is focused on scalability just as it is on interoperability. The upgrade has features that would allow it to evade slow transactions and high gas fees, a major issue that ETH users are being forced to deal with.
Cardano is currently being criticized after a decentralized exchange on the platform Minswap shut down its testnet, with users pointing out that the problem could have underlying roots which require a degree of decentralization to be resolved. However, Cardano’s founder Charles Hoskinson was swift to shut down the speculations saying Cardano held no responsibility for Minswap.
Despite a minor dip following the criticisms, ADA token is still in a steady climb, maintaining a strong support of $2.5, after recording an all-time high of $3.09 a few days ago. There are suggestions that ADA might go on to make even more highs once Alonzo is fully live.
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