BlockchainCardano (ADA)News

Cardano Successfully Launches the First Testnet to make the Blockchain Compliant with Smart Contracts

Just a few days ago, Cardano became fully decentralized. The blockchain founder, Charles Hoskinson, informs the media that the team has launched its first Alonzo testnet on May 27th, 2021. The company management broadcasted that the blockchain would be able to launch the Plutus smart chain contracts as soon as September. This would enable smart chain capability and allow the developers to introduce several new decentralized and fintech protocols. 

The Alonzo blue testnet could only be accessible for a selected number of miners and stake pool developers at this stage. These specific operators would also comprise the participants of the Plutus takeoff engineers and several other DeFi developers. Hoskinson told his followers that comprehensive hard fork functionality would go live in a matter of 3-4 months. He also requested the blockchain application developers to play their part in making this dream a reality.  

Cardano Creator Claims that ADA Native Blockchain would Outrun Ethereum Eventually

Speaking with the journalists from Yahoo Finance, Cardano’s creator told the media that Ethereum is no match for Cardano. He pointed out that the weakness of Ethereum is that it is in a race against itself. Talking about the differences between Ethereum Classic (ETC) and Ethereum 2.0 (ETH), he claimed that the silver cryptocurrency is trapped in a paradox. He also added that the new ETH version would collide with its former self and destroy the Ethereum Classic.

📰  Bitcoin And Ethereum Top $100 Billion Market Spike

As per Hoskinson, the Battle Royale of Ethereum would eventually result in eliminating at least one out of its two current renditions. He went on to call Ethereum being overrated and lacking in the essential tools to survive in the environment of competition. He also pointed out that Ethereum only can run smart contract protocols. On the other hand, Cardano is working on the capabilities to offer governance and work around metadata plus autonomous management.

Cardano Nearing the Hard Fork Combinatory Stage in a Few Months

The ultimate short-term goal for Cardano is to be able to be compliant with the hard fork combinator (HFC event). However, to get to that phase, the blockchain would have to navigate through several phases like Alonzo White and Plutus smart contracts. Through Alonzo, Cardano would be able to form more bonds and invite more collaborators and test out standard performance indicators.

Meanwhile, with the integration of Plutus smart contracts, the blockchain would make the testnet wholly public, where Plutus Pioneers, in addition to the new SPOs, would be able to develop, test, and launch new programs. After completing all this stage, the metamorphosis for Cardano would be complete, and it would become smart contracts compliant in a matter of a few months.

📰  TopBTC Review - Is TopBTC Scam Or Legit?

Hassan Mehmood (Saudi Arabia)

Hassan is currently working as a news reporter for Tokenhell. He is a professional content writer with 2 years of experience. He has a degree in journalism.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close