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Life After Alonzo. Finally, Cardano

Cardano’s successful release of the Alonzo hard fork brought smart contracts to the platforms. After three years of testing and peer reviews, Cardano has the same...
Life After Alonzo. Finally, Cardano Life After Alonzo. Finally, Cardano

  • Cardano’s successful release of the Alonzo hard fork brought smart contracts to the platforms.
  • After three years of testing and peer reviews, Cardano has the same functionalities as Ethereum and other smart contract ecosystems.
  • Cardano’s smart contract capacities and functionalities have been highly criticized.

Peer-reviewed or first to market? With Cardano implementing its smart contract capabilities on September 12th, Etheruem’s market dominance could diminish. Cardano successfully released the “Plutus smart contract capabilities through a hard-fork update” and created a level assessment field between the existing smart contract ecosystem.

A New Dapps Environment

On Sunday, September 12th, Input-Output HK (IOHK) announced the successful release of the Alonzo hard fork update. The new update will represent the “start of a new era,” as developers are able to deploy smart contracts on the network, stimulating the development of dapps.

In a blog post released by IOHK, the company states that “expectations” need to be managed as an ecosystem of highly sophisticated dapps is a timely task, emphasizing the time it took Ethereum dapps to gain popularity.

The epochal update that incurred three testing phases will enable new network growth possibilities. Now Cardano has unlocked the development of new features such as Decentralized Finance, NFTs, and the oracle network, features previously available on other platforms such as Ethereum or Tron.

Furthermore, Tim Harrison, marketing and communication director at IOHK, illustrated an ecosystem outlook showing the number of new or transitioning projects that want to use Cardano’s smart contract functions.

Rocky Road to Success

Seamless network deployment is a phantasm in the crypto space. However, as Cardano’s testnet entered the final phase, developers and Ethereum maximalists found incongruencies between network expectation and the smart contract service model. Specifically, the EUTOX proposed by Cardano offers a “different programming paradigm” than existing blockchains.

Minswap, the first DEX on Cardano, was forced to shut down network testing, as users discovered Cardano’s smart contracts could not handle more than one transaction per block. Still, EUTOX’s architecture is not a “fundamental flaw” but rather a development challenge.

Still, IOHK released a blog post explaining EUTOX’s system architecture. According to the article, the system underpinning Plutus smart contracts offers greater security, full cost predictability, and the inability to lose transaction fees during failed transactions.

On The Flipside

  • Cardano dapps will not be released in the foreseeable future as DEX developers still need to find loopholes for the EUTOX challenge.
  • The price of ADA could skyrocket if Cardano smart contract adoption increases.

Sell the News

In anticipation of the Alonzo hard fork, the price of ADA, Cardano’s native tokens, surged to a new all-time high of $3.10, according to data from Coinmarketcap. However, news regarding possible programming issues prevented the parabolic rally, as ADA’s price stagnated.

Following the successful hard fork, ADA lost 10% as investors “sold the news.” Moreover, the market sell-off coupled with project FUD regarding programmability capabilities caused the price of ADA to plunge to a weekly low of $2.27.

Nonetheless, Cardano’s smart contract is not yet proven. However, with a big community backing, which trusts Charles Hoskinson, the network needs to meet harsh industry demands before being considered an Ethereum contender.

Why You Should Care?

Cardano is the third token by market capitalization despite not embedding network features such as DeFi or NFTs, which the industry is highly demanding. A network valuation of $77 billion needs to be argued and accounted for by the product it adds to the market. Thus, the Alonzo upgrade is IOHK’s entry ticket. Still, it is unknown whether Cardano can gain a substantial share of the smart contract space.

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APPROVED BROKERS
Row 1 Left net_home_top Row 1 Right Row 2 Left Row 2 Center Row 2 Right Main Right TOP 07 Main Right TOP 06 Main Right TOP 05 Main Right TOP 04 Main Right TOP 03 Main Right TOP 01
27-09-2021 20:36:03 (UTC+7)

EUR/USD

1.1697

-0.0016 (-0.14%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (5)

EUR/USD

1.1697

-0.0016 (-0.14%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (5)

GBP/USD

1.3695

+0.0013 (+0.10%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

USD/JPY

110.95

+0.23 (+0.21%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (8)

Sell (0)

AUD/USD

0.7268

+0.0009 (+0.13%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (1)

USD/CAD

1.2662

+0.0010 (+0.08%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (4)

Sell (3)

EUR/JPY

129.78

+0.08 (+0.06%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (6)

Sell (1)

EUR/CHF

1.0852

+0.0029 (+0.26%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Gold Futures

1,751.35

-0.35 (-0.02%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (9)

Silver Futures

22.602

+0.177 (+0.79%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (9)

Copper Futures

4.2862

+0.0007 (+0.02%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Crude Oil WTI Futures

75.50

+1.52 (+2.05%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (10)

Sell (0)

Brent Oil Futures

78.83

+1.60 (+2.07%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (10)

Sell (1)

Natural Gas Futures

5.558

+0.358 (+6.88%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (11)

Sell (0)

US Coffee C Futures

192.93

-1.42 (-0.73%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (7)

Sell (2)

Euro Stoxx 50

4,164.35

+5.84 (+0.14%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (10)

Sell (0)

S&P 500

4,442.68

-12.80 (-0.29%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

DAX

15,566.05

+34.30 (+0.22%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (9)

Sell (0)

FTSE 100

7,052.90

+1.42 (+0.02%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Hang Seng

24,208.78

+16.62 (+0.07%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (8)

Sell (0)

US Small Cap 2000

2,261.90

+8.02 (+0.36%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

IBEX 35

8,995.50

+122.40 (+1.38%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

BASF SE NA O.N.

64.635

+0.935 (+1.47%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (8)

Sell (0)

Bayer AG NA

47.23

+0.75 (+1.61%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (7)

Sell (1)

Allianz SE VNA O.N.

195.66

+3.32 (+1.73%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Adidas AG

278.20

-3.37 (-1.20%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Deutsche Lufthansa AG

6.415

+0.182 (+2.92%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (7)

Sell (2)

Siemens AG Class N

146.94

-1.17 (-0.79%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (6)

Sell (0)

Deutsche Bank AG

11.040

+0.205 (+1.89%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (6)

Sell (0)

 EUR/USD1.1697↑ Sell
 GBP/USD1.3695↑ Sell
 USD/JPY110.95↑ Buy
 AUD/USD0.7268↑ Buy
 USD/CAD1.2662↑ Buy
 EUR/JPY129.78↑ Buy
 EUR/CHF1.0852↑ Buy
 Gold1,751.35↑ Sell
 Silver22.602↑ Sell
 Copper4.2862↑ Buy
 Crude Oil WTI75.50↑ Buy
 Brent Oil78.83↑ Buy
 Natural Gas5.558↑ Buy
 US Coffee C192.93↑ Buy
 Euro Stoxx 504,164.35↑ Buy
 S&P 5004,442.68↑ Sell
 DAX15,566.05↑ Buy
 FTSE 1007,052.90↑ Buy
 Hang Seng24,208.78↑ Buy
 Small Cap 20002,261.90↑ Buy
 IBEX 358,995.50↑ Buy
 BASF64.635↑ Buy
 Bayer47.23↑ Buy
 Allianz195.66↑ Buy
 Adidas278.20↑ Sell
 Lufthansa6.415↑ Buy
 Siemens AG146.94↑ Buy
 Deutsche Bank AG11.040↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank5,665/ 5,715
(5,665/ 5,715) # 900
SJC HCM5,635/ 5,700
(0/ 0) # 885
SJC Hanoi5,635/ 5,702
(0/ 0) # 887
SJC Danang5,635/ 5,702
(0/ 0) # 887
SJC Nhatrang5,635/ 5,702
(0/ 0) # 887
SJC Cantho5,635/ 5,702
(0/ 0) # 887
Cập nhật 27-09-2021 20:36:08
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,751.79+2.290.13%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2204022480
RON 95-II,III2194022370
E5 RON 92-II2071021120
DO 0.05S1658016910
DO 0,001S-V1693017260
Dầu hỏa1564015950
ↂ Giá dầu thô thế giới
WTI$75.18-0.49-0.66%
Brent$78.60-0.59-0.76%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.630,0022.860,00
EUR25.993,7727.346,60
GBP30.324,2231.591,18
JPY200,45212,05
KRW16,7520,39
Cập nhật lúc 18:54:42 27/09/2021
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