Cardano has come a long way from being a highly researched, peer-reviewed, 5th largest blockchain platform to now being ready to roll out a much anticipated smart contract feature that will enable the Cardano developers to build and launch dApps on its blockchain network, opening a whole new world for innovation.
Last week on August 6th, 2021, IOHK, the parent company of Cardano had made an announcement that the Alonzo Purple testnet to support smart contracts on the Cardano blockchain is publically available and new user onboarding has begun. IOHK team is also systematically onboarding cryptocurrency exchanges and making them “Alonzo HF-ready” to ensure that after the hard fork, exchanges users can maintain uninterrupted deposits and withdrawals of their ADA token and do not have to wait.
IOHK CEO and creator of Cardano, Charles Hoskinson today in a Video podcast announced that the final launch date of a fully functional publicly available smart contract will be revealed this Friday.
We had a lot of discussions with partners and other people, and it looks like we are on track for Friday to announce the date.Charles Hoskinson
He also added that it will be “a very achievable date” and cautions the community that onboarding the exchanges will be “the final go-no-go.”
Cardano (ADA) prices have jumped up to 20% in the last 2-3 days after the smart contract announcements and analysts are also seeing a major increase in the development activity on the chain. At press time ADA is traded at $1.76 per token. Blockchain surveillance and analytics firm Santiment has confirmed the recent price jump to increase in development activity.
One prominent reason for the increase in development activity cloud correlated with the smart contract itself because, with Alonzo purple, the testnet is fully public for developers to test and build dApps on its testnet as compared to Alonzo Blue and Alonzo White where it was limited to 50 users and 500 users respectively.
Another growth signal cloud be attributed to the world’s first-ever minted NFTA (Non-Fungible Tokens of Appreciation) on the Cardano blockchain. And as per the blog post tokens that are going to be built on Cardano are native and will not require smart contracts, unlike Ethereum based ERC-20 tokens. Every NFT or NFTA is going to be treated like a native token of the network ADA.