After months of testing in the ‘Alonzo’ testnet, the developer of Cardano, IOHK has announced the release date for the next upgrade. According to the developer, smart contracts will launch on 12th September on the Cardano mainnet.
Now, developers and investors can utilize the massive array of use-cases of smart contracts.
The developer shared this news on their Twitter account. In the tweet, they mentioned that they had successfully submitted an upgrade proposal to the Cardano mainnet. What happens is, it will trigger the hard fork combinator (HFC) event. Moreover, the event will take place on Sunday. On this news, the developer said:
“The Alonzo HFC event will be the most significant upgrade yet, laying the firmest of foundations for an exciting new era of smart contracts on Cardano.”
Now, the HFC technology will enable the deployment of smart contracts capability with the core Plutus. This will come with all compatibility upgrades across the entire software stack.
Testing for smart contracts capability on Cardano started way back with the ‘Alonzo’ testnet. In fact, many trusted testers have repeatedly tested the network at every upgrade iteration. Moreover, smart contracts are processing transactions accordingly & developers are working to building dApps on the platform.
With smart contracts in place, Cardano will strengthen its position against other networks. Moreover, it will compete against the most dominant network in the segment, Ethereum. Also, Cardano will compete with a new contender that is currently very popular in the segment, Solana.
Besides smart contracts functionality, Alonzo hard fork will also bring DeFi and Decentralized exchanges to the platform. In addition, it will also bring the capability to mint NFTs on the blockchain, effectively broadening the scope of use-cases.