Cardano (ADA) founder Charles Hoskinson has confirmed that after the Alonzo hard fork smart contracts will be available on the cryptocurrency\u2019s network, and added that with time the infrastructure on Cardano will only get better<\/p>\n
During a live-streamed update, Hoskinson clarified there are two parallel tracks leading up to the hard fork: the combinator event that will give \u201cAlonzo capabilities to the node,\u201d while the second track is about the \u201cinfrastructure around that node that allows you to run both off-chain and on-chain code and build full dapps [decentralized applications].\u201d<\/p>\n
https:\/\/youtube.com\/watch?v=6z3j2AkiBd0%3Ffeature%3Doembed<\/p>\n
Hoskinson added that he believes the infrastructure necessary for the hard fork will be built \u201cin the August-September time frame,\u201d and added this means that Cardano users will be able to \u201crun smart contracts the moment that hard fork comes on Cardano infrastructure and building an increasingly better environment for Cardano apps to be developed and deployed on.\u201d<\/p>\n
The founder of Cardano added that over time the sophistication of what people will be building on top of Cardano will only get better, but noted that since there are numerous integration partners involved the upgrade has numerous stages to avoid damaging the infrastructure around it. Nevertheless, right after the fork smart contracts will be executable.<\/p>\n
As CryptoGlobe reported, last month ADA\u2019s popular Yoroi wallet launched a decentralized application connector that will make it easier for users to interact with smart contracts and these applications once they go live on the Cardano network.<\/p>\n
It\u2019s worth noting that the Alonzo hard fork is part of the network\u2019s \u201cGoguen\u201d era, named after Joseph Goguen, an American professor of computer science from the University of California and the University of Oxford. The Goguen era comes after the Shelley phase, in which Cardano became a decentralized blockchain and community members became validators.<\/p>\n
Alonzo will roll out in three phases: blue, white, and purple. Each opens up more to the public until the upgrade\u2019s full integration is complete. As Hoskinson noted, there\u2019s no \u201cneed to go through the full rainbow\u201d as once the hard fork is deployed the next upgrades will be building upon it.<\/p>\n
Some decentralized platforms are already preparing to go live on the Cardano network. Cardax, the first decentralized exchange set to launch on it, recently raised $1.5 million from its first community sale.<\/p>\n
Cardax is looking to implement key features that go beyond native support for native tokens on Cardano, but also allow users to earn as liquidity providers from the fees the exchange collects, to trade ADA with any native token through the Yoroi Cardano wallet, and to trade in single transactions.<\/p>\n
As CryptoGlobe reported, last week Amy Arnott, a portfolio strategist at Morningstar that focuses on cryptocurrencies, has revealed she believes\u00a0ADA could become one of the largest three cryptocurrencies by market capitalization\u00a0and go mainstream, along with Bitcoin and Ethereum.<\/p>\n