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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Cardano: Alonzo Enters Final Stage, Smart Contracts On The Horizon

Reynaldo Marquez
Reynaldo Marquez
3 years ago
3 mins read
Picture of a Cardano symbol with updates written a computer keyboard key behind it

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Cardano moves at full speed towards its final hard fork combinator (HFC) event Alonzo to implement full smart contract capabilities. The community has been keeping a close eye on the latest developments, as AlonzoPurple enters its final test stage.

Input-Output Global, the company behind this blockchain and its development, recently disclosed that they submitted an upgrade proposal. This will allow the Cardano testnet to hard fork “into the Alonzo era”.

❗🍴 Today, we have just submitted an upgrade proposal to the #Cardano testnet to hardfork the chain into the #Alonzo era and enable smart contract capability. This will take effect within the next few hours. 1/5@CardanoStiftung @Cardano

— Input Output (@InputOutputHK) August 27, 2021

The process has been put into effect and should be completed within the day, IOG claimed. The company referred to this final test stage for HFC Alonzo as a “major milestone”.

In addition, IOG said that Cardano has entered a “critical stage” that will take place before the mainnet is forked to implement Plutus, its native smart contract platform. The company confirmed that the final stage for the HFC event Alonzo will be rollout out on September 12th, 2021.

Over the days ahead, we’ll be doing final checks and testing within a controlled environment to ensure that we are ready to upgrade the main #Cardano network. And usher in a transformative era of smart contracts capability.

Dimitris Poulopoulos, IOG’s delivery lead, called the new stage the “final dress rehearsal”. All the components and the smart contract platform need to work for a determined period of time before full implementation.

During this time, developers will identify and fix issues before mainnet deployment. In addition, the team will “confirm” the stability of the network and its other elements.

Most importantly, crypto exchange platforms have been testing their configurations, reporting, and tracking down bugs and issues. Thus, when the HFC launches, these platforms can operate without problems.

The company thanked stake pool operators (SPO), pioneers, and other partners for their “incredibly hard work” and celebrated that they are “nearly there now”. The HFC Alonzo is probably one of the most awaited Cardano updates.

A Final Test For Cardano Before The Big Show

Charles Hoskinson, the creator of Cardano and IOG CEO, also thanked the community in a recently posted video on his YouTube channel. Hoskinson confirmed that after reviewing the infrastructure, and the state of the testnet, the team decided to greenlight the final test stage.

He further explained that, unlike previous occasions, Alonzo has entered the “primary testnet used for exchanges and all the other people”. Once the HFC infrastructure “rolls over”, it will stay on the testnet until the “update proposals are done” on September 9th, before its launch on the 12th. Hoskinson added:

It’s going to be probably a rather uneventful rollover, knock on wood. Looks like that, we are pretty happy about it. Everything is on schedule for the 12th. Big milestone today on the go/no-go decision (…). Thank you to the countless hundreds of people who helped us beta test this and push really hard (…).

At the time of writing, ADA trades at $2,85 with a 12.8% profit in the daily chart. The cryptocurrency sits at the 3rd position in the top 10 by market cap, right below Ethereum, and Bitcoin.

ADA has been positively reacting to the updates on the platform’s smart contract capabilities and seems poised to continue breaking all-resistance levels. In the past day, it made one of the strongest comebacks after the market saw some selling pressure. $3 stands as the next major objective.

Cardano ADA ADAUSDT
ADA on strong bullish momentum in the 24-hours. Source: ADAUSDT Tradingview
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Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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