Cardano to launch smart contracts targeting DeFi Boom and commercial use cases in August

The development team behind the Cardano blockchain reveals new details about the smart contract release. Following the March release of the Mary Protocol, Charles Hoskinson's Cardano announced that the Alonzo update will begin in August. Cardano's development company IOHK (Input Output Hong Kong) announced this week that Alonzo's upgrade will add smart contract support to the Cardano blockchain. With the update, developers can start developing the Cardano platform, a highly anticipated feature that the Ethereum network currently has. IOHK states that the upgrade aims to support businesses and provide assistance to developers who want to build decentralized finance (DeFi) applications. “Smart contracts mark the next step in Cardano's evolution as a globally distributed ledger. To support day-to-day business, a blockchain must ensure that individuals can safely move their money and pay for their products. "Smart contracts help ensure that a transaction or purchase is made only when certain conditions are met and ensures reliable and confidential payments. In May and June, IOHK helped users test the new product, upgrading and preparing crypto exchanges and wallets to the" Alonzo protocol update. " This year, Cardano's original token, ADA, gained nearly 722% in value from $ 0.18 in January to an all-time high of $ 1.48. The asset is currently trading around $ 1.19 and is around $ 1.19. It has a market value of $ 40 billion. Don't Miss a Rhythm – Subscribe to receive crypto email alerts straight to your inbox. Follow us on Twitter, Facebook and Telegram Surf The Daily Hodl Mix Check the latest news Disclaimer: The Daily The views expressed in Hodl are not investment advice Investors Bitcoin, cryptocurrency or di It should show due diligence before making risky investments in jital assets. Your transfers and transactions Read more

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