Cardano Inches Towards Introducing Smart Contracts Support July 17, 2021 July 17, 2021 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsJuly 17, 2021 by Kelly Cromley

Cardano Inches Towards Introducing Smart Contracts Support

On July 15, IOHK, the Cardano blockchain devteam, announced that the project’s Alonzo test net has officially moved from Blue to White, enabling the network’s long-awaited expansion to functioning smart contracts.

While the last testnet, Alonzo Blue, did include certain smart contract capabilities, they were only accessible to a select group of insiders. Following yesterday’s overhaul, around 500 validators, stake pool managers, and coders will be able to trial these functionalities in the future.

Alonzo White will be operational for two to four weeks before being upgraded to Alonzo Purple, the last testnet for the present development stage.In spite of recent criticism from other members of the blockchain community, Cardano founder Charles Hoskinson said in recent times through a YouTube video that the project’s advancement plan is still on track, underlining the fact that over $10 million in NFTs and “tens of thousands of assets” have been liquidated across the Cardano network. Programmers will be able to roll out dApps, NFTs, and several more after Alonzo White is hosted on the mainnet.

On the wake of Alonzo White’s revelation, the Spores Network, an NFT and DeFi marketplace, reported a successful $2.3 million crowd funding on July 16. The business claimed that it wants to deliver NFTs to mainstream consumers by using Cardano’s cheap transaction fees, smaller carbon footprints, and greater transaction processing ability.

Introducing additional NFTs to the network may result in huge profits for Cardano and its investors, as more firms and content creators step into the expanding NFT industry, with Dolce & Gabbana being the latest to join.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.