Alonzo Hard Fork upgrade: Smart contract capibilities for Cardano

The third biggest crypto by market cap, Cardano, has added smart contract capabilities to its Blockchain through the successful upgrade of Alonzo Hard Fork. Yesterday, the update was deployed to the mainnet. The next aim of Cardano is to launch DeFi apps and expand the ecosystem of Cardano.

There was a lot of noise about this particular upgrade of Cardano. The upgrade was deployed in the testnet many weeks ago for testing purposes and to know the users’ views about this particular upgrade. Alonzo Hard Fork will include the Plutus which will allow programmers to put scripts on-chain.

Alonzo Hard Fork upgrade:

Yesterday, the upgrade was shifted onto the mainnet from the testnet of Cardano Blockchain. This update will bring support for the smart contract to the Blockchain. Alonzo Hard Fork upgrade has made a new stakeholder in the ecosystem of defi. Defi ecosystem is now crowded and lead by powerful Blockchains like Solana and Ethereum.

The defi ecosystem of Cardano is much diverse than other platforms and already is getting attention from third parties. 150 projects are being developed by different people through Cardano’s Project Catalyst innovation program according to the Input-Output firm.

Alonzo Hard Fork
Cardano ecosystem

The CEO of input-output has asked users not to raise their expectations too much from this Alonzo Hard Fork upgrade. He explained by saying this:

High expectations are resting on this upgrade. Some unreasonably so. Cardano watchers may be expecting a sophisticated ecosystem of consumer-ready DApps available immediately after the upgrade. Expectations need to be managed here.

The company behind Cardano development has asked developers to take benefit of parallelism and multiple transactions. The benefit of this Alonzo Hard Fork upgrade will be seen after a certain amount of time because it has a lot to improve.

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About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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