Cardano founder Charles Hoskinson has informed the community about impending Cardano (ADA) blockchain improvements.
Charles Hoskinson recently mentioned Cardano upgrades. The founder was speaking on his YouTube live stream. When discussing the planned Alonzo hard fork, Hoskinson noted that “we are on pace, everything is moving along, chugging away.”
Hoskinson was discussing the requirements for the upgraded fork, noting that a lot of work is needed. “There are two parallel tracks going on for the launch of Alonzo, one is the hard fork combinator event, which is strictly about getting Alonzo capabilities to the node, and the other is about building the infrastructure around that node, which allows you to run both off-chain and on-chain code and build full dApps.”
Hoskinson anticipates that the majority of the development infrastructure will be completed between August and September. According to the founder, users will be able to perform smart contracts as soon as the hard fork occurs on the Cardano infrastructure. According to Hoskinson, the update would provide a “better environment for Cardano apps to be created and deployed on.”
Hoskinson anticipates that the imminent fork will help Cardano boost its global adoption efforts. Hoskinson anticipates that once smart contracts are available, “the dApp ecosystem for those will expand significantly, so people will be running things on the Cardano on blockchain from day one, and the sophistication of those things and the interfaces of those things will only get better over time.”
Expectations are high for Cardano’s delayed improvement.
Cardano’s network has been gradually growing and expanding into a worldwide blockchain ecosystem. The network recently passed the 660,000 staking address mark. Over $29 billion in funds have been staked in total, accounting for more than 70% of the total supply.
Cardano was also recently announced as the newest project to be added to Grayscale Investments’ holdings, ranking third after bitcoin and ethereum. ADA managed to set a new all-time high of $2.45 earlier this year. However, following a market slump, the project’s price has steadily declined. However, at the time of writing, the project’s price remained constant at $1.37.