Yesterday, September 12, the Alonzo update was successfully rolled out on the 290 era Cardano blockchain, opening up the possibility of using smart contracts on the network.
According to the IOHK blog post behind the development of Cardano, after months of testing Alonzo on the testnet, the update was rolled out to the Cardano mainnet and opened up the possibility of writing smart contracts in Plutus scripts. Plutus is a smart contract development language using the functional programming language Haskell.
The Alonzo update is a key part of the Goguen era, with a focus on deploying smart contract capabilities. Cardano Plutus scripting will also allow the creation of decentralized applications (dApps). However, the developers caution that it will take some time before the Cardano ecosystem is ready to fully deploy dApps on the mainnet as the protocol continues to evolve. The article says:
“Let’s be clear. Problems can arise along the path of network development. The first user experience may not be ideal. Some early dApps will have problems. We’ll see great development teams as well as bad teams work. This is an uncontrolled decentralized blockchain, so this is inevitable. There are high hopes for this update, and some of them are not justified. Many are counting on a complex ecosystem of consumer-ready dApps that are available straight out of the box. It is worth moderating expectations. ”
According to Neil Davies, System Performance Analyst at Input Output, the Cardano team will continue to work on various network improvements, including initiatives to synchronize and compress transaction script sizes to optimize network throughput.
“This is the first era that the number of transactions on the network has surpassed half a million,” he said during a live broadcast on YouTube prior to the hard fork.
The rollout of the update has not yet had a positive impact on the ADA price. According to CoinMarketCap, over the past 24 hours the price of the Cardano cryptocurrency has decreased by 5% to $ 2.43.
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