Input Output Hong Kong (IOHK) says it is gearing up to roll out the final phase of Cardano’s Alonzo update, which will bring smart contract capabilities to the world’s fifth-largest crypto by market cap.
The Cardano developer tells its 145,000 Twitter followers that the Alonzo Purple testnet is up and running and is undergoing an onboarding process.
IOHK says that it’s aiming for Cardano to launch full smart contract compatibility in the coming weeks.
“It’s an important moment, marking significant progress in the rollout of smart contracts on the Cardano mainnet which is targeted for the end of August/early September.”
IOHK also says it’s been communicating with crypto exchanges in preparation for the update to ensure that ADA holders can smoothly transition into Cardano’s smart contract era.
“We want to ensure as many exchanges as possible are ‘[Alonzo hard-fork-ready]’ when we hard fork the network, to ensure that their customers maintain uninterrupted deposit/withdrawal access to their ADA and do not have to wait for this to be sorted out afterwards.”
In a live stream, Cardano creator Charles Hoskinson says that following the hard fork combinator (HFC) event, developers will be able to start coding smart contacts onto the Cardano blockchain using Plutus code.
“What’s really cool is that five seconds after the HFC event occurs, you can run Plutus code on Cardano… If you’re really creative and really understand our stack, you guys can actually start writing and deploying your smart contracts on mainnet if you so choose, which is pretty awesome. Or you can wait two, three weeks and the testnet will be in a position where you have the full ‘Cadillac’ experience, and you can write stuff and deploy it there.”
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
The post Cardano Testnet Now Supports Smart Contracts With Rollout of Critical Alonzo Update appeared first on The Daily Hodl