Charles Hoskinson, the founder of Cardano (ADA), assured, while appearing in a live stream briefing on YouTube, that the company is progressing with Alonzo’s update of the hard fork and all the procedure is running in a scheduled way. He revealed that there is a need for a corresponding hard fork that is to be focused simultaneously because two concurrent tracks are going on side by side. Track one, he stated, contains the hard fork, and track two is being constructed to provide the infrastructure regarding that node which enables the users to operate the on-chain as well as the off-chain code to manufacture full-fledged Dapps.
He anticipated that majority of the infrastructure would be developed between the period of August and September. It signifies, he elaborated, that the consumers will be able to operate smart contracts right from the time of the hard fork’s incorporation in the infrastructure of Cardano. He disclosed that the current update would build a far better environment for the development as well as the deployment of the decentralized applications of the network.
The expected upgrade of the ADA ecosystem
The firm, having more than 500 workers in around 52 countries, seeks to continue its expansion and to form more commercial contracts following the event of the hard fork. Hoskinson proposed that the ecosystem of decentralized applications will stretch significantly after the availability of smart contracts. He added that people would gain access to the project, and the advancements will take place over time.
As there are more than 100 integration contributors, the Cardano founder pointed out that the upgrade requires to be carried out in steps; otherwise, the infrastructure would be inadvertently damaged, and everything will be destroyed.
Some potential technological benefits of Cardano
Amy Amott, the portfolio manager at Morningstar (an investment research firm in America), recently proposed that Cardano will be ranked as 3rd biggest cryptocurrency in the coming days. He further stated that the company has several specific concerning technologies that might appeal the investors.
In the meantime, DEX (an exchange for decentralized currencies) has gathered up to $1.5M in its initial public token sale. The exchange, while operating on the protocol named EAMM, will serve as the trading platform for the ecosystem of Cardano. Specifically, it aspires to tackle some of the problems in the ecosystem of Cardano.