In Brief:
- Cardano has executed 100 smart contract in first 24 hours after Alonzo upgrade
- Alonzo upgrade provides compatibility with smart contracts on Cardano
- Alonzo Hard Fork lets smaller enterprises create Dapps without compromising sustainability goals or business costs.
After the launch of Cardano’s most awaited upgrade, Alonzo Hard Fork, Cardano has added 100 smart contracts in the first 24 hours.
Cardano had successfully updated its Blockchain a few days ago. Alonzo hard fork upgrade gives smart contract functionality, providing the ability to develop apps that can use the advanced capability of blockchain.
The Alonzo Hard Fork is the first step of Charles Hoskinson’s plan to advance a most secure and trustworthy Global financial system with low monetary and environmental costs. This update had proven a boost in Cardano’s Blockchain as, in just 24 hours, more than 100 smart contracts had been executed on the network. Its first decentralized application has also been deployed.
It is a known fact that Creating apps on the blockchain is a very tough task for many developers as it demands a lot of energy and unpredictable cost too. So the Alonzo Hard Fork provides this to smaller enterprises without having to compromise on sustainability goals or business costs.
Cardano had also claimed that Cardano is more energy-efficient than Bitcoin as its blockchain uses innovative mechanisms to verify transactions. The emergence of dApp functionality on Cardano will no doubt drive forward Charles Hoskinson’s boundless ambitions for the project, which actively seeks to engage the developing world as the central use case and user base.
The IOHK team is already working extensively with the Ethiopian government to integrate blockchain technologies into national administrative infrastructure.
Charles Hoskinson says “The focus is now on improving the platform further, and ensuring that Cardano is adopted by corporations and governments. With this launch, commercialisation is as much in the hands of the community as it is the system architects, and they are already delivering – in less than 24 hours, over 100 smart contracts have already been run on the network.”
