Charles Hoskinson founder of Cardano through a Youtube live stream has updated the community on the upcoming updates on the Cardano (ADA) blockchain which includes the Alonzo hard fork.
Charles Hoskinson recently spoke about upcoming Cardano improvements. On his YouTube live stream, the founder was speaking. When asked about the planned Alonzo hard fork, Hoskinson replied, “We are on pace, things are moving along, chugging away.”
Hoskinson was discussing the criteria for the revised fork, noting that there is a lot of work to be done.
“For the launch of Alonzo, there are kind of two parallel tracks going on at the same time: track one is the hard fork combinator event, which is strictly about getting Alonzo capabilities to the node; track two is about building the infrastructure around that node, which allows you to run both off-chain and on-chain code and build full dApps.”
Most of the development infrastructure, according to Hoskinson, will be built between August and September. Users will be able to perform smart contracts as soon as the Cardano infrastructure is hard forked, according to the founder.
According to Hoskinson, the update would provide a “better environment for Cardano apps to be created and deployed on.”
With the impending split, Hoskinson expects Cardano to broaden its global adoption drive. “The dApp ecosystem for those will expand considerably,” Hoskinson predicts once smart contracts are available.
“From day one, people will be running things on Cardano blockchain, and the sophistication of those things and the interfaces of those things will only become better over time.”
Cardano’s delayed upgrade has a lot in store
Cardano has been steadily growing and expanding its network into a worldwide blockchain ecosystem. The network recently passed the 660,000 staking address mark. Over $29 billion in funds have been staked in total, accounting for more than 70% of the total supply.
Cardano was also recently revealed as the newest project to be added to Grayscale Investments’ portfolio, ranking third behind bitcoin and Ethereum.
Just three months ago, ADA managed to set a new all-time high of $2.45. However, following a market correction, the project’s price has been steadily declining. However, at the time of writing, the project is still trading at $1.37.