Cardano Alonzo hard fork.

IOHK, Charles Hoskinson’s research firm, has stated that “this is where the mission truly begins as we –the whole community– start delivering on the vision we have all been working towards for so long.

On september 12th, Cardano stepped up with the successful launch of Alonzo hard fork; a very long expected key step for the coin.

This functionality enables smart contracts to be written using Plutus scripts as “a purpose-built smart contract development language and execution platform using the functional programming language Haskell.”

Building a decentralized system that extends economic identity and opportunity to everyone, everywhere. This is only the beginning then.

A lot of work remains but to understand how encouraging that milestone is, one can observe that more than 100 smart contracts were added to the blockchain in the 24 hours following the launch of smart contract capability on the ADA mainnet. 

Hydra will work side by side with Cardano’s existing Layer 1 solution to provide a smooth user experience.

Other projects keep moving on with the Ethiopian government to integrate blockchain technologies in national administrative infrastructure, successful entry on Japanese market, knowing how strict Japanese regulators are; they gave it the green light for trade – the fifth crypto asset ever to unlock this status.

Hydra is the solution

For a decentralized system like Cardano, it is imperative for the network to offer small fees and security. That is the purpose of Hydra.

The Layer 2 protocol aims to scale the network and to help lowering down fees to a sustainable level. This will bring stake pool operators and end-users to meet on acceptable fees but not too low in order to avoid temptation of Denial of Service Attacks ( Ddos ).

One crucial aspect of any cryptocurrency is to be able to keep transaction history; Hydra will also be a solution to store all the informations without being problematic with time, as the storage grows.

The healthy and solid Cardano allows to be optimistic as its success gets confirmation day by day, allowing it to remain on the 3rd place of NFTs ranking since march 2021.

Yet despite the obvious many actors of the scene will pop up to lower ADA inner value. Ethereum servants, supporters, advocates, promoters get scared by the more and more probable day where Cardano outvalues their big brothers.

Tagged with: , , , , ,