Cardano Smart Contract Launch Imminent – Here’s the Latest on the Highly Anticipated Upgrade

Smart contract platform Cardano (ADA) has confirmed the launch of its highly anticipated Alonzo mainnet this month.

Input Output Honk Kong (IOHK) broke the news for its 180,500 Twitter followers, saying that the team successfully proposed the implementation of the mainnet on September 12th.

“LAUNCH CONFIRMED: Today, around 17:26 UTC, we successfully submitted an update [sic] proposal to the #Cardano mainnet to trigger a hard fork combinator event on Sunday”

Source: InputOutputHK/Twitter

Cardano founder Charles Hoskinson shares in a YouTube video that ADA’s smart contract roll-out is set to begin supporting decentralized applications from developers as long as they properly implement Cardano’s native programming language, Plutus.

[1:39] “The underlying infrastructure to run those things is now operational and running, not on a testnet, [but] running on a mainnet, which means that if you have Plutus code for your application, come the 12th, if you can submit it and get it running, it will run on the mainnet. 

So smart contracts are here, congratulations.”

After dipping below $1.50 for most of the first half of 2021, Cardano broke out and rallied to a new all-time high of $3.16 following the announcement that smart contracts were coming to its platform. 

ADA is trading at $2.58 at time of writing, according to CoinGecko.

Hoskinson then details some of the platform’s capabilities regarding the launch.

[12:48] “A lot of people ask ‘well, what can you do as of the 12th?’ Well, a lot! You have smart contract capabilities, it’s limited to the skill, imagination, and tooling of the developer. You issue a token, you can go beyond the NFTs (non-fungible token) now. [I’m] very sure in short order it should be fairly trivial to get a stablecoin on this system.

You can start doing all kinds of advanced spending policies on your NFTs, if you wanna put royalties on NFTs. These types of things can be done, and hundreds of other ideas and applications are now possible as a consequence of what is shipping on the 12th.”

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The post Cardano Smart Contract Launch Imminent – Here’s the Latest on the Highly Anticipated Upgrade appeared first on The Daily Hodl.