Crypto trader and influential Aaron Arnold describes an upcoming development for Cardano, who he says could serve as a catalyst for the island’s price hikes in the coming weeks.
In a new video, Arnold informs his 925,000 YouTube subscribers that Cardano is poised to explode as an ethereum rival to release the long-awaited update.
“Cardano may be ready to retest all-time highs. I believe Cardano’s withdrawal is now worth more than $ 2. After the consolidation period [six months] Cardano went Yesil again. Big news of the day, Cardano. If you’re a supporter of Cardano, if you’re a namesake, here’s an announcement made earlier today about smart contracts.”
Arnold is referring to the announcement by Nigel Hemsley, supply and project manager at Cardano developer Input Output Hong Kong (IOHK). Cardano is set to launch his full smart contract capabilities on September 12, according to Hemsley.
The influential cryptographer also points to recent statements by IOHK Technical Director Kevin Hammond to explain why the launch of Cardano’s smart contracts could be a big event for the third-largest cryptocurrency.
“We expect some new applications to emerge from the start, including new applications that our Plutus partners are working on and after hardfork. Of course, this is really a whole new era for Cardano, because with hardfork, we provide the key features of smart contracts and scenarios on which all these applications can be based. Initially the focus will be on the CLI [command line interface], as we do with the blue, white and purple test networks.
But if we deploy PAB [the server side of the Plutus application], it will improve developers ‘ performance by making it easier to develop complex dApps [decentralized applications] with both integrated and chained components. Everything will be written down
