Cardano plans to solve its real-world problems using blockchain technology.
It monitors the education processes of 5 million young people together with the Ethiopian Government.
As a result of the initiative, plans will be created that can be useful if students are looking for a job or considering studying abroad. The team’s priority is thorough research. Because of this, it took some time for the Alonzo Hard Fork to be deployed on the mainnet. Alonzo Hard Fork is Cardano’s third major update to the Shelly Era.
The currency has five widely known major stages of development. These; Byron, Shelley, Goguen, Basho and Voltaire. All of these will increase the overall functionality of the network. Alonzo, the last major development of the platform during the Shelley era, brings it into the Goguen era. The Alonzo update has three phases: Blue, White and Purple. Alonzo Red and Alonzo Black will be added for adding users and emerging issues. Alonzo Blue will add smart contracts to the network, similar to those found on the Ethereum network. Cardano’s smart contract capabilities have taken a big hit, allowing it to compete with other programmable blockchains and greatly expand the solution offerings available to its partners.
So, How Will Cardano be Any Different?
Binance Smart Chain’s EVM compatibility means that all its major dApps are clones of existing Ethereum dApps, while Cardano is expected to have unique applications for developers and users alike. It may take time to see the next generation DeFi developed in Cardano. This may result in the development of new additional applications. In addition to the sophistication of Plutus, hacking incidents can be reduced thanks to security verification techniques. Developers and users will benefit from the new Cardano DeFi ecosystem, which includes a brand new smart contract environment packed with their own unique tokens, projects and features. The added benefit now is a wealth of knowledge and expertise that Ethereum didn’t have when it was first released.
Cardano may not be worth as much as Ethereum. But it is very good that the competition in the smart contract industry encourages all projects to develop their products and services for the benefit of their users.