Cardano’s Upcoming Alonzo Update Pushes ADA Price
--
In a short period, Cardano (ADA) has made it to the list of top 10 online currencies by market capitalization. It is currently at number seven and has a market capitalization of more than $41 billion. It represents about 2% of the cryptocurrency market globally. It attained an all-time high ($1.5) on April 14, according to CoinGecko.
Charles Hokinson, co-founder of Ethereum blockchain and founder of Cardano leads the IOHK. He posted a video on his YouTube channel titled “Some Musings About the Roadmap”. In the video, he talked about Cardano’s roadmap over the coming four years.
He said that Cardano developers are busy trying to find a solution for the scalability issue as well as Cardano’s approach. However, he will start focusing on the issue when the Alonzo update is complete. After the Goguen update is done, the Cardano roadmap scalability phase will follow. The name of the phase is Basho, named after a Japanese haiku master of the 17 thcentury.
The Deadalus and Alonzo Upgrade
The Deadalus update was released by Cardano on April 1. It marks the start of native tokens support on the blockchain and the Project Catalyst Fund3 voter registration. With this update began the countdown to the cryptocurrency becoming a totally decentralized blockchain.
The countdown has already reached its realization. A representative from the Cardano Foundation discussed the Deadalus update with Cointelegraph.
They said that a Deadalus user’s wallet can now be used as one unified interface to accept both ADA, in addition to many other tokens on the blockchain. They also talked about Cardano’s journey to becoming a decentralized blockchain.
According to Cardano, the decentralization event has put it on the map as one of the most decentralized blockchains globally. The next and last phase of Goguen is the Alonzo update. This upgrade is expected to provide smart contract functionality. The Plutus platform is responsible for enabling this upgrade’s development.
Additionally, Cardano developers have come up with a method of minting and selling NFT collectibles without the smart contract functionality.
