Cardano (CRYPTO: ADA) is launching good contracts on the blockchain on Sunday, September 12 at 21:44:51 UTC with the implementation of the Alonzo laborious fork.
What occurred: Caradano at the moment ranks because the third largest blockchain based mostly on market cap, behind Ethereum (CRYPTO: ETH) and prime cryptocurrency Bitcoin (CRYPTO: BTC). The launching of good contracts on the Cardano blockchain units the stage for direct competitors with Ethereum which has utilized them since 2015.
The Alanzo laborious fork could go reside with solely a “few toy good contracts” which have been developed by Cardano’s creator Charles Hoskinson, in accordance with a report from Decrypt.
Why It Issues: The worth of the Cardano blockchain’s ada token hit an all-time excessive of $3.09 on September 2 in anticipation of the launch of good contracts. Though ada’s worth got here down to $2.02 after the worth of Bitcoin and Ethereum skilled a sudden drop final week.
Ada’s worth is $2.66 on the time of publication, as critics voice issues about potential problems within the implementation of good contracts on the blockchain.
Hoskinson despatched a tweet forward of the laborious fork implementation, saying it’s the starting of a brand new stage of growth for the Cardano blockchain.
Tomorrow is the large day! We’re getting into a brand new Period of Cardano.
— Charles Hoskinson (@IOHK_Charles) September 12, 2021