{"id":9719,"date":"2021-09-12T19:08:05","date_gmt":"2021-09-12T18:08:05","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=9719"},"modified":"2021-09-12T19:08:15","modified_gmt":"2021-09-12T18:08:15","slug":"cardano-to-launch-smart-contracts-today-by-implementing-the-alonzo-hard-fork","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/cardano-to-launch-smart-contracts-today-by-implementing-the-alonzo-hard-fork\/","title":{"rendered":"Cardano to Launch Smart Contracts Today by Implementing the Alonzo Hard Fork"},"content":{"rendered":"\n
Cardano's Alonzo hard fork<\/a> has its skeptics.<\/h5>\n\n\n\n
\"Cardano<\/figure>\n\n\n\n

Cardano\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> will usher in smart contracts at 21:44:51 UTC tonight by implementing the Alonzo hard fork. <\/p>\n\n\n\n

However, several decentralized applications have been delayed due to design issues, and Alonzo may only go live with a \u201cfew toy smart contracts\u201d developed by Cardano's creator.<\/p>\n\n\n\n

Smart contracts, which are self-executing pieces of computer code, serve as the foundation for decentralized applications such as decentralized exchanges and non-custodial lending apps. <\/p>\n\n\n\n

Alonzo pits Cardano<\/a> against other smart contract-enabled blockchains, including Ethereum, which introduced them in 2015.<\/p>\n\n\n\n

So join us ahead of the epoch boundary c. UTC 21:30 via a YouTube livestream.<\/p>

Subscribe today and hit the bell to get alerted when we go on air!\ud83d\udd142\/2 https:\/\/t.co\/6CcCWRjSFv<\/p>\u2014 Input Output (@InputOutputHK) September 10, 2021<\/cite><\/blockquote>\n\n\n\n

Cardano (ADA) hit an all-time high of $3.09 earlier this month as a result of the excitement surrounding Alonzo. Cardano's developer, IOHK, launched Alonzo's testnet on September 2. <\/p>\n\n\n\n

However, after complaints that the upgrade had trouble processing concurrent transactions, the price dropped to $2.60.<\/p>\n\n\n\n

According to Ethereum<\/a> investor Anthony Sassano, the first Cardano dApp, a multipool exchange called Minswap, went down shortly after it began because it struggled to handle several transactions at once.<\/p>\n\n\n\n

Seriously 6 years of “peer-reviewed” research and a $90bil+ market cap later and the first dapp on Cardano can't even do concurrent transaction processing (aka the very thing you need for DeFi).https:\/\/t.co\/mcmTjQEKbb<\/p>\u2014 Anthony Wassano \ud83e\udd87\ud83d\udd0a (@sassal0x) September 4, 2021<\/cite><\/blockquote>\n\n\n\n

These criticisms, according to IOHK, are “speculation (and, let's face it, pure FUD and misinformation”),” before adding that Cardano's approach to unspent transactions provides “better security” and “fee certainty.”<\/p>\n\n\n\n

Cardano<\/a> supporters are expecting for another rally this evening, and Alonzo will bring in \u201ca new Era of Cardano,\u201d according to Cardano founder (and Ethereum co-founder) Charles Hoskinson.<\/p>\n\n\n\n

Tomorrow is the big day! We are entering a new Era of Cardano.<\/p>\u2014 Charles Hoskinson (@IOHK_Charles) September 12, 2021<\/cite><\/blockquote>\n\n\n\n

Despite this, IOHK was unable to solve its difficulties with a single twitter thread. Because of the difficulties, it appears that Alonzo<\/a> will not start with any killer applications. <\/p>\n\n\n\n

Several decentralized exchanges have stated that their launch would be postponed until concrete answers to the transaction bottleneck are identified.<\/p>\n\n\n\n

Cardano's public image has leaned significantly on its boast of thorough technological study and testing since its introduction in 2015. Upgrades to the protocol are subjected to peer review by academics.<\/p>\n\n\n\n

A rocky launch might be viewed as a significant setback. said that \u201ca few toy smart contracts\u201d built by IOHK would go live on day one in a YouTube<\/a> video on Wednesday.<\/p>\n\n\n\n

Cardano's notoriety is nothing to sneeze at, with a market worth of $83 billion. However, it could take at least a few months before it becomes anything resembling an Ethereum killer.<\/p>\n","protected":false},"excerpt":{"rendered":"

Cardano’s Alonzo hard fork has its skeptics. Cardano will usher in smart contracts at 21:44:51 UTC tonight by implementing the Alonzo hard fork. However, several decentralized applications have been delayed due to design issues, and Alonzo may only go live with a \u201cfew toy smart contracts\u201d developed by Cardano’s creator. Smart contracts, which are self-executing […]<\/p>\n","protected":false},"author":13,"featured_media":9721,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[2202,193,128,601],"class_list":["post-9719","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-alonzo","tag-cardano","tag-ethereum","tag-hoskinson"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/09\/image-111.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/9719","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=9719"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/9719\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/9721"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=9719"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=9719"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=9719"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}