Get ready everyone!
Cardano’s smart contracts are reportedly going live as early as September 12th 2021, according to the most recent reports.
ADA has seen a surge in price action as a response to this recent announcement, and investors are really excited about the long awaited update.
The Cardano team has been working on this one for years now, but the wait is almost over!
Personally, I am invested in ADA, and have been a big fan of the project for a while now. Naysayers will tell you that ETH is the king of all smart contract platforms, but as I mentioned before: I think ETH is great for private enterprise.
ADA though? I think it’s wonderful for sensitive government information, credentials etc, and that’s why I invest in both.
Here are the latest developments concerning Cardano’s smart contracts:
We’re targeting 12 September 2021 for the ‘Alonzo’ upgrade, bringing smart contracts to Cardano via a hard fork combinator (HFC) event.
— Input Output (@InputOutputHK) August 13, 2021
September 12th!! Smart contracts launching🚀🌖 live into the crypto space… #Cardano
One small step for @IOHK_Charles –one giant leap for Cardanians.
— Gorilla'ish Ⓥ🦍🌎 (@Vegan_plant_luV) August 13, 2021
Crypto Briefing had more details:
The launch of smart contracts on the Proof-of-Stake blockchain will allow for the launch of dApps covering use cases like DeFi, written in its in-house programming language, Plutus.
In a video stream, Nigel Hemsley, Head of Delivery at Cardano, confirmed the update. “We are rapidly moving towards the hardfork on the mainnet,” he said. “Our engineering and test teams are working extremely hard to make sure components are updated and ready for the final Alonzo release.”
In the past, the team has faced criticism over slow rollouts and the lack of smart contracts. In recent months, Cardano has made significant progress and gradually resolved the schedule towards implementing smart contracts.
— Erdal Torun (@Erdal_Torun_) August 13, 2021
Let me just dream once. Imagine $ADA #ADA #Cardanao announces the release of smart contracts which have been developed considering security as well as scalability and further projects can build on…Will we see a similar level like $BNB ? Price: 2.06 pic.twitter.com/KW5QCM1qW1
— CryptoPunkRocker (@cryptopunkrock1) August 13, 2021
The upward effect on ADA’s price action was highlighted by Coin Telegraph:
At $2.07, this marked ADA’s highest price since May 18 and the start of the cross-crypto price rout engendered by China’s mining shakeout.
The move was accompanied by impending technological upgrades, notably smart contracts on Cardano, something popular trader Lark Davis described as a “very bullish catalyst.”
“A mere 6X would give it the same market cap as Ethereum,” he noted, forecasting potential gains of “several hundred percent” once the smart contract feature goes live.
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