“Just by copying and having bridges for contracts, you don`t become an Ethereum killer,” says Joshua Scigala, co-founder of The Standard.io, a DeFi infrastructure project. “When people say, `Well, it`s too expensive,` I say, `Well, Berlin is extremely expensive to live with. What for? Because everyone wants to live here. After the August development update, it looked like the smart contract upgrade and the Alonzo mainnet Hard Fork wouldn`t suffer any more delays. Of course, any issues that arise during the testnet phase could have resulted in the postponement of the smart contract update, but the IOHK team remained confident about the release on September 12. Cardano has recently been criticized as critics complain about delays in development, especially the time it takes to deploy smart contracts. Therefore, smart contracts are not only important in themselves, but a successful introduction on time will also give investors the peace of mind that Cardano can offer. Although the majority of NFTs are now in the field of digital art, they have a variety of use cases for all aspects of the company or business that would benefit from increased traceability of an asset. At The Standard.io, they are working to convert users` secured debt positions into NFT, which can then be tracked below. Scigala provides another example of how the 2008 mortgage crisis was due in part to the fact that mortgage-backed securities were divided and repackaged and became untraceable. However, Ethereum is struggling because its platform is not fast enough to cope with the high demand. Until it can switch to Eth2, users will have to deal with high fees and network congestion.

Cardano`s smart contracts may mean that some of these users switch to its system. According to the latest announcement from Input Output, the team developing Cardano, the smart contract launch will be done on September 12 with a hard fork called “Alonzo”. Cardano`s price has risen more than 65% since the beginning of August in anticipation of the Alonzo upgrade. According to data from CoinMarketCap, this has pushed it into the top three cryptocurrencies by market capitalization. It hit a high of $2.25 after the announcement, bringing it closer to Cardano`s all-time high of $2.46 in May. Cardano is available on all major cryptocurrency exchanges. With the launch date approaching, Cardano`s native ADA token has risen today to enter the top three cryptocurrencies by market capitalization. It has risen 17% in the last 24 hours, with the token trading above $2 for the first time since May. With a market capitalization of $64.3 billion, Cardano is now only behind the two main cryptocurrencies: Bitcoin and Ethereum. ❗? Today, we just submitted a proposal to upgrade the testnet #Cardano to bring the chain into the era #Alonzo and enable smart contract capability.

This will come into effect in the next few hours. 1/5@CardanoStiftung @Cardano This is “an important milestone and marks the final and critical phase ahead of the Cardano mainnet hard forking, which is scheduled for September 12,” IOHK said of the significant rollout taking place on the main test network rather than Alonzo Purple, which was launched earlier this month. Alonzo is a big step forward for Cardano, bringing smart contracts to a network that has been developing for years. This is one of the biggest upgrades and could make the network a real competitor in the field of decentralized applications (dApp). The preparation for this weekend`s start has not always gone well. Earlier this week, the first decentralized Cardano application on the Alonzo Minswap test network had to be shut down prematurely due to “competition concerns”. Basically, the network struggled to support multiple users interacting with the protocol at the same time, with critics arguing that Cardano`s use of UTxO or “unused transaction expenses” was not up to the task of supporting DApps. Here`s when you can expect Cardano smart contracts to hit the market. In preparation for the launch, the team determined that more than 140 exchanges should be ready with the full software package, including components such as DB-Sync, Cardano Wallet, Rossetta API, and GraphQL Explorer.

To achieve this goal, the Cardano Foundation is working with 140 scholarships to launch the integration of Alonzo Purple. The upgrade of Alonzo allowed the integration of Plutus scrips into the blockchain and the implementation of smart contracts on Cardano. The most important innovation that accompanies Cardano`s Alonzo upgrade is the introduction of smart contacts into the network. Smart contracts enable decentralized financial applications (DeFi) on networks that Ethereum has dominated so far. According to DeFi aggregator Llama – which includes most, but not all, DeFi channels – the total value stuck in DeFi recently reached nearly $190 billion, although TVL has since pulled out to $166 billion at the time of going to press. These smart contracts enable the creation of dApps on Cardano and open up a variety of potential applications for the blockchain, allowing it to challenge the Ethereum platform and intensify the Cardano fight against Ethereum. Experience the journey into a new era of smart contracts, DeFi and more for $#Cardano ADAt.co/59czSxrxFO smart contracts are tiny pieces of code that live on the blockchain. They are a game changer. Without it, a blockchain database is a sophisticated ledger that can record and track transactions and data. But with smart contracts, blockchain is becoming a programmable platform that can host other applications.

Input-Output Hong Kong (IOHK), the development team behind Cardano, announced that the smart contract upgrade will launch on the public test network on September 12. The company tweeted on September 7. September as the Cardano update called Alonzo will trigger the hard fork over the weekend. The latest upgrade has finally given smart contract functionality to the ambitious network. Tim Harrison, IOHK`s director of marketing and communications, said that while the launch of Alonzo is a moment to celebrate, it`s just the beginning for Cardano. In a recent blog post, Harrison reflected on the long and arduous journey IOHK had to undertake to bring smart contracts to Cardano and noted that the biggest step towards the new era was made with Byron`s restart in March 2020. In July of the same year, Shelley`s upgrade brought Cardano closer to a truly decentralized network. This year`s Mary upgrade created a multi-asset network and introduced native tokens, pushing adoption and use to their all-time highs. Cardano will be released on September 12.

September Smart Contracts in the public network tests and makes the long-awaited upgrade available to the public. In the past, the team has been criticized for slow deployments and lack of smart contracts. Over the past few months, Cardano has made significant progress, gradually setting the timeline for implementing smart contracts. Cardano`s price has risen in anticipation of the introduction of smart contracts. “Almost finished. Move on,” IOHK added, while identifying and fixing bugs to ensure network stability as the team completes preparations for Cardano`s next and this time final mainnet upgrade, which “will usher in a transformative era of smart contract capability.” Once Alonzo hits the market, it will be important to keep an eye on how many developers are using the system and if there are any technical issues. Cardano also holds its annual summit at the end of September. It will be virtual so that investors can register and get a glimpse of the next steps of the coin. The excitement is palpable in the Cardano community as the network prepares for the long-awaited Alonzo upgrade hard fork this Sunday, bringing smart contract features and other new features to the blockchain. Cardano`s Alonzo upgrades, deployed in three phases, blue, white and purple, have been rolled out in recent months as the ADA – the network`s native cryptocurrency – has risen in value and become the third largest in the world by market capitalization at the end of August. September 12 is the launch day of Cardanos Smart Contracts.

Last week, Cardano creator Charles Hoskinson set a date for the long-awaited upgrade of the popular cryptocurrency platform Alonzo. Another successful upgrade that will give smart contract functionality to the Cardano blockchain has been made.