cardano[एडीए]has retained a portion of its profits in the weeks before the accident.. At the time of writing, the fifth cryptocurrency by market cap is trading at $1.50 with moderate losses on the weekly chart.
The ADA moves with general market sentiment, undecided, and without any clear direction. However, the bullish case for Cardano revolts around the deployment of its smart contract capabilities, and IOG, its developer, is making significant progress.
In early June, the company launched the first testnet for the platform’s Alonzo era, AlonzoBlue. This phase of Cardano’s development is aimed at stress testing their smart contract platform, Plutus. IOG’s Media Department announced:
The first Simple Plutus smart contract has been successfully run on the AlonzoBlue Cardano testnet this week.
Tim Harrison, IOG’s marketing director, Nigel Hemsley, the company’s head of delivery, and delivery lead, Dimitris Poulopoulos, ran this smart contract for the first time. Hemsley said that while stake pool operators (SPOs) are successfully running nodes, these community members have been a key component in “solving a bunch of issues”.
Pioneers and IOG partners are also running their own nodes and have started with their first exercises. as newsbtc Reported Two weeks ago, Alonzo’s testnet would have several color coded stages (blue, white, purple, and two smaller stages called red and black) before its implementation.
Each will have a specific set of objectives and exercises to be completed by the IOG and its participants from the private to public stage. AlonzoBlue will examine basic network functionalities, initial distribution of ADA to SPOs with simple Plutus scripts, and others. Paulopoulos said:
We can actually talk to Alonzo Node. A pioneer can create a very simple smart contract and pass it to the ledger. Therefore, they can write their first smart contract against our network.
Where is Cardano going next?
Simple smart contracts that can be deployed Cardano’s AlonzoBlue can have various applications, Paulopoulos said. IOG’s delivery lead said that although Alonzo has yet to run a “fancier” smart contract, it represents a major milestone for the platform.
At the moment, sustainability is a priority for AlonzoBlue. Then, IOG will go to AlonzoWhite and SPO, Pioneer and Partners, to “spin un” a new node. In this phase, IOG engineers will integrate the larger components for Plutus, Helmsley said.
to IOG. got a lot of feedback from Community Poulopoulos added, via GitHub and Discord. By joining AlonzoBlue, developers hope to instill trust in the network and its components. IOG’s delivery head said:
Once they (leaders and partners) can successfully prove they can submit, validate and execute we’ll be ready for (Alonzo) White.