Charles Hoskinson informed the Cardano community about the timing of the next network update – Alonzo Purple.
The Alonzo update on the Cardano network goes through several stages. The first one was Alonzo Blue, in July Alonzo White, the next one will be Alonzo Purple. Upon completion of all stages, the network will be able to execute full-fledged smart contracts.
Cardano founder Charles Hoskinson is confident that the update will offer “a better environment for developing and deploying applications.”
According to Cardano’s roadmap, major network upgrades are scheduled for completion in early September. Alonzo hard fork deployment strategy:
“We will know the final date based on the feedback we receive from exchanges, EMURGO and other partners who need to integrate,” Hoskinson said during a live broadcast on YouTube.
He acknowledged that solving the problems of building an updated Cardano infrastructure requires a non-trivial approach and a lot of effort from the developers.
Ethereum, Cardano’s main competitor and leader in decentralized applications, has yet to tackle the challenges of scalability, fees, and transaction speed. This gives Cardano a chance to rank higher in the industry.
Cardano’s network reached 660,000 staking addresses, with a total value of staked coins of about $ 29 billion, almost 70% of ADA’s current $ 43.4 billion market capitalization.
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