On Friday, the Cardano token price jumped more than $ 2, closing at an all-time high crypto asset rate three months ago. The Cardano award was given thanks to a video announcement by Cardano that Nigel Hemsley claimed Cardano’s network would be updated on September 12, 2021. The long-awaited” Alonzo Purple ” update is designed to expand the Cardano project with full-featured, advanced smart contract solutions.
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Cardano plans to update the network in the near future, as Nigel Hemsley of IOHK plans to launch the update on September 12. In a tweet, Input Output (IOHK) also announced that the update would take place on the same date as in the video. The name” Alonso ” comes from the mathematician and computer scientist Alonso Church. Alonzo’s app was gradually updated with color-coded stages, the latter becoming purple.
“This is happening,” the IOC said. “We will focus on September 12, 2021 for the Alonso update and bring smart contracts to Cardano with the hard fork combinator (HFC) event. Learn more about smart contracts, Defi and the journey to a newer era for Cardano (ADA).”Essentially, the Cardano community believes that Alonso will lead advanced smart contract solutions and decentralized financing (Defi) protocols.
While the biggest features emanating from Alonzo will be smart contracts and Defi, the update aims to reinforce concepts such as tokenization and ideas of tokens that cannot be changed. It has also been said that ERC20 tokens derived from Ethereum can be used in the Cardano chain.
Cardano has been criticized for some time, as the community is promised full-featured, advanced smart contracts and other features. Skeptics have even debated whether the Cardano network will support smart contracts until October 1, 2021. The Poly market proposal showed that rates were against the project, but now 87% of Cardano’s
