The Cardano Alonzo hard fork release is nearly here, but what will the upgrade bring to the ADA network?
In the battle of Cardano vs Ethereum, the hard fork will implement the likes of Cardano smart contracts., taking it a step closer to the ‘Ethereum Killer’ tag.
Here’s a look at the upcoming Cardano Alonzo hard fork.
Cardano Alonzo Hard Fork Release Date
The Cardano Alonzo hard fork will occur on September 12, as confirmed by IOHK in its August Development Update. The update proposal for Alonzo will be clipped on September 9.
However, we do not yet know the exact timing or the block number candidate for the hard fork.
The hard fork testnet will first launch on September 1 ahead of the mainnet release a week later. IOHK describes this as a “dress rehearsal” in which it can identify issues and make any final fixes ahead of the mainnet launch.
This will bring an end to a lengthy development period ahead of the Cardano Goguen era, initially slated for release in March 2021. Following the Goguen era, Cardano will target the Basho era, with a focus on scaling.
Alonzo went through three speciality testnet stages earlier this year: Blue, White, and Purple.
What Is The Cardano Alonzo Hard Fork?
The Cardano Alonzo upgrade ushers in the era of smart contracts and DeFi.
Users will be able to use these smart contracts to create native DApps on the Cardano blockchain through the new Plutus development language.
As explained in IOHK's video on the hardfork, aside from implementing decentralised finance - or DeFi - Cardano will also support decentralised exchanges (DEX) in the future.
Here, IOHK explains:
Imagine opening up the app store on your phone, like we all do right now. This is how the future looks, except that all these apps will be decentralized.
As Cardano moves into the Goguen era, the network will support “the creation of fungible and non-fungible tokens, supporting the creation of new cryptocurrencies on Cardano as well as the tokenization of many types of digital and physical assets.”
Cardano Alonzo Latest News
August 31: On August 27, Cardano’s co-founder Charles Hoskinson confirmed the greenlighting of the current Alonzo roadmap. The Alonzo testnet will release on September 1, followed by the mainnet on September 12.
“All infrastructure is green and go, or will be green and go by the weekend,” Hoskinson said, referencing various minor bugs the development team was cleaning up ahead of the launch.
Hoskinson said the Alonzo release is “going to be probably a rather uneventful rollover.”
Read More: Cardano Smart Contract Summit 2021: Dates, Timings And More
[Featured Photo by Executium on Unsplash]
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