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The Cardano Network has officially executed its much-vaunted Alonzo hard fork.
The upgrade introduces smart contract capabilities and paves the way for developers to launch a host of new projects and applications on the network, such as Decentralized Finance Platforms (DeFi), Non-fungible Tokens (NFT) and stable coins.
Cardano creator Charles Hoskinson said he believes the platform’s long journey into the era of smart contracts will benefit the entire crypto industry.
“We worked a very long time. Some of the members of this team have been working for over four years. We did our job. [We did] our homework. We have made hundreds of presentations, dozens of articles.
So much code has been written and a lot of very careful thought has gone into building a very new model that is ubiquitous, if not beneficial, as an experience for the industry. [that] we think it is the best industrial model.
With smart contract functionality now available on Cardano’s mainnet, Hoskinson anticipates the future of the ecosystem, including the debut of the Plutus application backend, which offers a suite of components that will enable technical and non-technical users to rely on the network.
“So it’s daytime, and you know what’s going on?” There must be an afternoon, September 13, Monday. We wake up. It’s business as usual. Lots of things are going to happen. [The] the network will probably be a lot busier because people are playing with things and testing things and that’s good.
And a few weeks later the latest and greatest version of the Plutus app backend will be released and we will have the [Cardano 2021] Mountain peak. And there will be a huge spotlight on the ecosystem as a whole. It will be a great event.
I
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Featured Image: Shutterstock / Bruce Rolff
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