He seems to have arrived at last; Cardano (ADA) launches smart contracts! It took a long time and therefore the project received a lot of criticism. However, major steps have been taken in recent months and ADA سعر price by. What awaits the project, and can the price of ADA rise more than it has in recent days?
Smart Contracts, What is Cardano
true Bitcoin (BTC) her network peer to peer The value of the transmission, the blockchain generations that followed are more detailed. Ethereum (ETH), Introducing the so-called second generation of the blockchain smart contracts. Thanks to this innovation, more complex decentralized applications can now be developed on the blockchain.
This brought a lot of new possibilities. I’m thinking of Decentralized Finance (DeFi), Where one can borrow or lend money without the intervention of a bank, trade peer-to-peer cryptocurrencies with each other and much more. but also Irreplaceable icons (NFTs), unique cryptographic tokens, are made possible by smart contracts.
The possibilities with smart contracts are actually endless. It is likely to be an important part of the future as people run more businesses in a decentralized manner. But all this is still in its infancy. However, Ethereum has so far been the king of the smart contract blockchain.
But with the advent of the third generation of blockchain, it seems that now Ethereum really has to prepare for a stronger competition. One such competitor is Cardano A Proof of Stake (PoS) A network that can easily handle hundreds of transactions per second at the base layer. But Cardano’s drawback is that it was actually launched in 2017, but smart contracts haven’t been activated since then. In other words, you can do relatively little with Cardano. But after four years of waiting, it’s time!
Cardano smart contracts will be activated next month
Yesterday, an update scheduled the date for Alonzo’s big update. The intention is for September 12 to be the big day for Cardano. And of course the ADA price immediately responded to this. It has risen 50% over the past 7 days and now appears to be holding above the $2 price.
We are targeting September 12, 2021 to upgrade Alonzo, to deliver smart contracts to Cardano via the Hard Fork Compilation Event (HFC).
– InputOutputHK August 13, 2021
In short, people have high expectations of what is to come. Is Cardano Dethron Ethereum? I think in the coming months we will have to see how Cardano evolves and whether the applications will actually migrate from Ethereum to Cardano. Of course, it is also important that no problems arise on the Cardano network.
Lark Davis, a popular crypto investor, shared his ADA price predictions on Twitter yesterday. He noted that the number of transactions on Cardano is still low, but the network could follow a similar path to Polygon once smart contracts are rolled out. However, a significant spike is unlikely at this point. If the price of ADA flips 6 more times, the market cap will be equal to that of Ethereum. However, Davis predicts that “a few hundred percent” will certainly still be possible.
Does this mean that ADA will pull 50X as Matic did? No. Just 6X would give it the same market cap as Ethereum.
But if Cardano makes it happen, we can still see it go up a few hundred percent after the launch of smart contracts, as users start using it!
It’s time to prove!
– Lark Davis (@TheCryptoLark) August 13, 2021