Cardano (CRYPTO: ADA) is launching sensible contracts on the blockchain on Sunday, September 12 at 21:44:51 UTC with the implementation of the Alonzo onerous fork.
What occurred: Caradano at present ranks because the third largest blockchain based mostly on market cap, behind Ethereum (CRYPTO: ETH) and prime cryptocurrency Bitcoin (CRYPTO: BTC). The launching of sensible contracts on the Cardano blockchain units the stage for direct competitors with Ethereum which has utilized them since 2015.
The Alanzo onerous fork could go stay with solely a “few toy sensible contracts” which have been developed by Cardano’s creator Charles Hoskinson, in response to a report from Decrypt.
Why It Issues: The value of the Cardano blockchain’s ada token hit an all-time excessive of $3.09 on September 2 in anticipation of the launch of sensible contracts. Though ada’s value got here down to $2.02 after the worth of Bitcoin and Ethereum skilled a sudden drop final week.
Ada’s value is $2.66 on the time of publication, as critics voice issues about potential issues within the implementation of sensible contracts on the blockchain.
Hoskinson despatched a tweet forward of the onerous fork implementation, saying it’s the starting of a brand new stage of growth for the Cardano blockchain.
Tomorrow is the massive day! We’re getting into a brand new Period of Cardano.
— Charles Hoskinson (@IOHK_Charles) September 12, 2021