Alonzo hard fork cardano

alonzo hard fork cardano

The Founder of Five Binaries, Marek Mahut, who ran the first smart contract on Cardano said that “Safety and scalability are major features for any developer. Cardano’s accounting technology, eUTXO, provides a novel approach, which makes writing secure smart contracts easier.”

The Cardano Foundation held the Cardano Summit 2021 on Sept. 25–26. IOHK, the blockchain research and development company that backs Cardano’s infrastructure, discussed the planned upgrades and improvements to the smart contract functionality at this summit. It remains to be seen when the deployment of actual DApps can be done on the network, but it’s not an instantaneous process.

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Any future tweaks to the hard fork will be very difficult to make past this point, and so it is important that these two phases are looked at very carefully.

Staging adds quality assurance, as code is frozen and exchanges are prepped for the Cardano hard fork. Alonzo Mainnet will officially launch the final code.

The Goguen Era, named after famed computer scientist Joseph Goguen, will allow for the development of dapps on the Cardano network for the first time due to Alonzo’s new smart contract capabilities.
Smart contracts are the vital components of dapps that enable them to operate without intermediary entities.

Alonzo hard fork cardano

Google (NASDAQ:GOOGL) Trends data show that, while Cardano’s worldwide interest is three times lower than Ethereum, ADA successfully reached the third spot by market capitalization.

Following the 2021 Cardano Summit, where Cardano announced a string of partnerships, including ChainLink and ERGO, and the development of a secure Cardano dApp store, there was little movement on the development front. For network dApps to be operational, Cardano needs to resolve three elements: the Plutus Application Backend, a dApp connector, and an ERC-20 converter, all of which are yet to be finalized.

Cardano’s price tumbled after the success of the Alonzo upgrade as investors “sold the news,” causing ADA’s value to decline from its all-time high of $3.

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The hundreds of new users will be run through a sort of “exercise boot camp” that will test the capabilities of the network. This experiment is being done by IOG; the main development company behind Cardano led by former Ethereum co-founder Charles Hoskinson.

The company expects this phase to last around two to four weeks.

Alonzo Purple will become a fully public testnet and on-board thousands of participants to the network. This particular stage is split into two distinct phases, “light purple” and “dark purple.” The first will allow for simple smart contracts, while the latter will allow for more complex smart contracts.

Then comes the final Alonzo Red/Alonzo Black color phases, which are reserved for final bug fixes/cleanup to prepare the final release of the hard fork.

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Essentially, rather than be opt-in, the updates will be opt-out.

Alonzo stages

The Alonzo hard fork is split into three main color-coded phases.

  • Alonzo Blue.

  • Alonzo White.

  • Alonzo Purple.

There are also two smaller phases post-Alonzo Purple dubbed “Alonzo Red” and “Alonzo Black.” Each phase essentially adds more users to the testnet and identifies bugs that may need to be fixed.

Alonzo Blue introduced smart contracts with around 50 technical participants, mostly stake pool operators (SPOs). Invalidation errors and other simple fixes were found and tweaked during this phase.
These standard bugs are expected to appear and be fixed as Alonzo goes through testing.

Alonzo White adds more features and a wider range of participants to Alonzo Blue.

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Marlowe is built on top of Haskell and Plutus but can be thought of as building blocks for creating smart contracts.

With easier smart contract production and more development on Cardano, one can imagine the potential projects to be built. If you look at Ethereum, you can see hundreds of projects that can be redeployed, reiterated on and even improved upon on the Cardano network, including Uniswap, Aave and many more.
Projects that demand faster transaction speeds will benefit greatly from the low transaction costs on Cardano. Already, more than 65 projects are pledged to be released alongside Alonzo, including Synthesis, Miniswap, Stasis and CardWallet.

The emergence of easier dapp building will bring with it more projects.

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Haskell. Plutus and Haskell use the same code base for off- and on-chain development. This means that at the core, the coding is identical so that there will be no complications with programming languages when developing smart contracts.

That allows Plutus contracts to become even more straightforward and permits testing, which will allow developers to perfect their products for much more intensive loads such as hosting large institutions or governments.

Hoskinson, who’s now the CEO of IOG, explained Haskell was chosen because it is a high- assurance code (capable of providing a higher degree of certainty the code works as intended).

Many times in the blockchain sector, code doesn’t fully match the intent of the developer and as a result, millions of dollars can be stolen or apps can break down, such as what happened when a Solidity smart contract wasn’t fully fledged out.

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An instance of smart contracts being fast-tracked into a network can be witnessed in the case of the Binance Smart Chain, the most recent one being the $12.7 million BTC hack from the pNetwork.

“At the same time, I believe that after launch, it will take more than two years for DApps to be deployed and operate at full scale on Cardano, as it was with the Ethereum network, “ Lyu said, adding “I think everyone is ready to start now and offer some new products and applications to users, but it is necessary to make sure that they are safe.”

Since Cardano is a blockchain project that has always focused on the fundamentals, one might assume that they will allow funds to flow through smart contracts only once they are deemed safe and secure.

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Although there is no set date for the end of the Alonzo hard fork, developers all across the network have been working hard on testnets and have stuck to a defined road map with specific milestones in the form of “eras.”

The eras of Cardano

Cardano’s development road map is divided into six main stages, or “eras,” each focused on expanding the functionality of the network.

  • Byron – Sets up the foundation code of Cardano. Allows users to exchange the ADA (+8.11%) currency, named after revolutionary programmer Ada Lovelace, and mine ADA with their proof-of-stake consensus algorithm.

  • Shelley – Focuses on decentralizing the network by setting up incentives for users to host their own nodes.

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With the advent of actual contracts, Cardano’s utility and usability goes through the roof.”

Cardano developer activity amongst the highest

According to a report by Outlier Ventures titled, “Blockchain Development Trends Q2 2020/21,” Cardano is one of the most actively developed blockchains out there, with the highest average monthly commits per month on Github code repositories at 701 commits per month (CPM).

The average CPM for all protocols considered in the report is 107 CPM. These “commits” essentially represent any additions or amendments made to the network’s source code on Github.

In terms of these commits, Ethereum comes in second with 447 CPM, IOTA stands third with 394 CPM with Filecoin and Flow rounding up the top five with 368 CPM and 306 CPM, respectively.

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The Alonzo hard fork bringing in the smart contract functionality will only push these trends to greater heights.

Cardano DApps are still on the distant horizon

Even though the Alonzo upgrade, a part of the Goguen phase of Cardano’s roadmap, allows developers to deploy Plutus-powered smart contracts on the network, the network hasn’t quite reached that stage.

Despite the belief in the market that over 2,000 smart contracts have been deployed on the network, according to data from Vercel app, a third-party data provider that uses data from, there are only 26 Plutus-powered smart contracts that have been deployed at the time of writing.

There is also a market-wide perception that these smart contracts are in timelock.

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