Cardano (ada) is ready
With the first step towards smart contracts and decentralized applications, the Cardano blockchain powers its weapons. ADA is very valuable to Alonzo.
Like other cryptocurrencies, the price of ADA has fallen in the last two weeks. On May 16, the price of the crypto asset fell from its all-time high (ATH) of 2.46 US dollars. Although it began its increase on May 24.
Cardano peaked at $ 1.73. In the gloomy crypto market over the weekend (May 30-31), crypto assets even showed an 11% rise to $ 29 ($ 1.64) in the morning. However, like other assets, this trend is fragile.
On the other hand, the blockchain contains cards that can increase the value of ADA. The network is now unable to compete with Ethereum, which is exactly what its leaders are working on. This situation can change dramatically in a few months.
That is why, on Friday, May 28, Cardano took the first step to implement smart contracts. Thanks to this function (Dapps), the blockchain will be fully capable of supporting decentralized applications.
However, the Alonzo update has now started to integrate the core features. This is the most important blockchain innovation predicted this year. You need to move Cardano close to Ethereum.
On May 28, the publisher began rolling out the Alonzo testnet. From the end of August, the network should be operational. "The key engineering roads, integration roads, coordination roads and community roads are planned to start in the next 90 days," said the founder of the company.
Charles Hoskinson makes extensive use of smart contracts. This feature is the foundation of Ethereum's success and aspires to match it. However, ETH has an advantage in this field.
Ethereum smart contracts were first launched in 2015 and have now become the market standard. In the first public blockchain, they are the cornerstone of DeFi. Since January 2021, the scale of decentralized finance has reached US $ 60 billion.
Cardano may seek to recover the value of ADA by formalizing Alonzo. This impact is already very late. According to Decrypt, the price of ADA fell after the announcement. However, there was an increase on Saturday, September 29.
In the last 24 hours, local crypto asset Cardano has fallen 1.30%. I see that it has a trend at the end of the month of $ 2 to 2.5 $