The Cardano developers have presented a plan to deploy the Alonzo hard fork on their blockchain. The update will be activated in August and will add the ability to create and execute smart contracts.
During the Cardano 360 event, IOHK CEO Charles Hoskinson unveiled a plan to roll out the Alonzo hard fork that will make smart contracts available.
According to the presented roadmap, the Alonzo testnet could be launched as early as next month. For the first time, developers will be able to deploy smart contracts on the testnet. In June, there will be a code commit after several months of testing, which will mark the beginning of the update activation.
A host of new applications could be launched right after Alonzo’s mainnet rollout is slated for August. The Cardano developers have already presented an application written in the Plutus programming language that allows you to exchange tokens. It could potentially become a competitor to decentralized exchanges on the Ethereum blockchain.
There have been two hard forks in Cardano over the past few months. The first protocol update, the Allegra hard fork, was activated in December. The second was the Mary hard fork, rolled out in March, which added the ability to create custom tokens without smart contracts. Alonzo will be the final piece of the challenge that will allow Cardano to enter the Goguen era and launch smart contracts on the blockchain.
Recently, IOHK founder and CEO Charles Hoskinson told Bloomberg that more than a hundred companies are in the process of switching from Ethereum to Cardano. There was no other confirmation of this information.
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