The developers of the Cardano ecosystem announced the launch of the alpha version of the first test network for smart contracts called Alonzo Blue
The developers of the Cardano ecosystem have unveiled a plan to deploy a new smart contract platform. The alpha version of the Alonzo test network called Alonzo Blue has already been launched. This was announced by the developers on their official website.
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However, the full launch of Alonzo will take place in several stages. Each stage is indicated by a color: Alonzo Blue, Alonzo White, and Alonzo Purple. In fact, Alonzo is a hard fork of the Cardano network that supports new functionality. The smart contracts themselves are supported by the integration of the Plutus platform.
See also: Cardano targets billions of users-Charles Hoskinson
The developers believe that eventually Alonzo will lead to the emergence of new decentralized applications (dApps), including the protocols of decentralized finance (DeFi). However, the full implementation of the project will take several more months. Details of the development of the new project are still unknown.
Ethereum is not a hindrance for Cardano
The developers also hope that they will be able to take into account the problems that the Ethereum blockchain network once faced. In particular, the developers hope to avoid curious situations with inflated commissions.
Moreover, as stated by Cardano co-founder Charles Hoskinson, The transition of Ethereum to the Proof-of-Stake (PoS) algorithm is unlikely to be a threat to Cardano. According to him, the ecosystems have different user bases, and the Cardano ecosystem itself has a more stable version of the PoS algorithm.
Recall that one of the disadvantages of Ethereum is its scalability. The issue is expected to be resolved with the ETH 2.0 update.
However, the news of the launch of Alonzo did not greatly inspire the community. At the time of writing, the ADA token is down almost 9% to $1.57. The ecosystem’s capitalization sank to $5.6 billion. Read about what to expect from the Alonzo hard fork in the special material of the BeInCrypto editorial board.
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