In a recent interview with Charles Hoskinson, the founder of Cardano (ADA token), Crypto Briefing reported that Cardano is now heading towards a highly anticipated hard fork named Alonzo that will enable developers to finally be able to build smart contracts on Cardano.
Launched in 2015 by one of the co-founders of Ethereum, Charles Hoskinson, Cardano is one of the world’s most valuable decentralized networks with a market capitalization of more than $60 billion.
Cardano is a Proof-of-Stake based blockchain that adopted a peer-reviewed academic approach. The project embraced the philosophy of openness in software development and implemented software features using an evidence-based method. Over the years, Cardano’s research team has published over 100 academic research papers, all the way from distributed systems to programming languages and game theory.
What will Cardano’s Alonzo hard fork do?
Cardano’s blockchain has evolved through different eras (versions), each adding new key features. Byron Era was the first iteration that started in September 2017 allowed users to exchange Cardano’s ADA currency on a federated network by utilizing the Ouroboros consensus protocol.
This was followed by Shelley’s upgrade that took place in mid-2020 and achieved decentralization of the network consensus after which the network was upgraded to a state where the majority of nodes would be run by the community, not a centralized group.
From the implementation of the Shelley era and staking in 2020 to the token-locking capabilities with the Allegra hard fork in December 2020, the upcoming Goguen era has been methodically taking shape to bring about significant changes to Cardano that will make for a scalable, sustainable, and interoperable blockchain network.
At the start of March 2021, another new step was taken in Cardano’s development with the success of the Mary hard fork, which delivered multi-asset and native token support, and the ability for Cardano’s blockchain to eventually manage transactions for many other types of projects such as fungible and non-fungible tokens (NFTs).
To fulfill the next step of the Goguen era, Cardano is now heading towards a highly anticipated hard fork named Alonzo (named after US mathematician Alonzo Church). This upgrade will enable developers to finally be able to build smart contracts on Cardano.
Hundreds of development teams are already striving to make their contributionsCardano’s founder, Charles Hoskinson
Developers will be able to use Plutus, a security-focused smart contract programming language based on Haskell, to write and deploy superior and secure decentralized applications (DApps) on Cardano’s blockchain.