Hoskinson: Cardano Will Run Smart Contracts Right After the Hard Fork
Cardano founder and the CEO of IOHK, Charles Hoskinson delivered good news for those who are waiting for smart contracts on Cardano network. After the Alonzo hard fork smart contracts will be available on the cryptocurrency’s network, and with time the infrastructure on Cardano will only get better, Hoskinson said in a recent update.
In a YouTube-streamed update (below), Hoskinson explained that there are two parallel tracks leading up to the hard fork: the combinator event that will give “Alonzo capabilities to the node,” while the second track is about the “infrastructure around that node that allows you to run both off-chain and on-chain code and build full dapps [decentralized applications].”
The IOHK CEO believes the infrastructure necessary for the hard fork will be built “in the August-September time frame,” and added this means that Cardano users will be able to “run smart contracts the moment that hard fork comes on Cardano infrastructure and building an increasingly better environment for Cardano apps to be developed and deployed on.”
Hoskinson mentioned that over time the sophistication of what people will be building on top of Cardano will only get better, but noted that since there are numerous integration partners involved the upgrade has numerous stages to avoid damaging the infrastructure around it. Nevertheless, right after the fork smart contracts will be executable.
Last month ADA’s popular Yoroi wallet launched a decentralized application connector that will make it easier for users to interact with smart contracts and these applications once they go live on the Cardano network.
The Alonzo hard fork is part of the network’s “Goguen” era, named after Joseph Goguen, an American professor of computer science from the University of California and the University of Oxford. The Goguen era comes after the Shelley phase, in which Cardano became a decentralized blockchain and community members became validators.
Alonzo hard fork is planned to roll out in three phases: blue, white, and purple. Each opens up more to the public until the upgrade’s full integration is complete. Hoskinson has pointed out that there’s no “need to go through the full rainbow” as once the hard fork is deployed the next upgrades will be building upon it.
Some decentralized platforms are already preparing to go live on the Cardano network. Cardax, the first decentralized exchange set to launch on it. The company recently raised $1.5 million from its first community sale.
Cardax is looking to implement key features that go beyond native support for native tokens on Cardano, but also allow users to earn as liquidity providers from the fees the exchange collects, to trade ADA with any native token through the Yoroi Cardano wallet, and to trade in single transactions.
