Cardano successfully completed its Alonzo hard fork and launched smart contracts for its users on September 12.
The finalization of the upgrade was announced on Sunday in a tweet by Cardano. It was successfully effectuated at epoch 290. The new protocol allows the execution of smart contracts for the first time on the public blockchain.
“The Alonzo upgrade will bring highly anticipated capabilities to Cardano through the integration of Plutus scripts onto the blockchain. These will allow the implementation of smart contracts on Cardano, enabling a host of new use cases for decentralized applications (DApps) for the very first time.”
Smart contracts are now available for Cardano through Plutus scripts. Plutus is “a purpose-built smart contract development language and execution platform using the functional programming language Haskell.” But Cardano believes this is only the beginning, and there is no time to rest.
“This is where the mission truly begins as we – the whole community – start delivering on the vision we have all been working towards for so long. Building a decentralized system that extends economic identity and opportunity to everyone, everywhere.”
But what is Cardano?
Cardano was founded in 2015 by Charles Hoskinson and was available on the market in 2017. Hoskinson is the co-founder of Ethereum and BitShares. Cardano is considered a third-generation cryptocurrency (Bitcoin is considered the first generation crypto, while Ethereum is a second one. It aims to resolve Bitcoin’s scalability problems and take to another level the smart contracts of Ethereum.
Unlike its rivals Bitcoin and Ethereum that use a proof-of-work protocol, Cardano is based on a proof-of-stake one. (Learn more about protocols in our other article). It also has its own token named ADA, which can be traded like any other coin or used inside the platform. For example, to become a validator, you will need 5 ADA.
Learn more about Cardano and how it works in our other article.
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