The Cardano Network had a significant update in September 2021. The Alonzo update included improved ADA speed and scalability and smart contract functionality.
Cardano launched Alonzo on September 2021, much to the excitement of developers and investors, and 100 smart contracts were added to the blockchain hours following the launch.
Since the upgrade, Plutus, a platform for Cardano smart contracts, has grown to reach 1000 contract milestones in four months. Plutus scripts in the Cardano network are now 1003. In addition, the update allowed Cardano to offer a platform for creating DeFi (decentralized finance) applications. It also provided developers with programmability.
Notable changes in the Cardano network
While Cardano made many changes with the upgrade, its most notable addition was the smart contracts. Moreover, the blockchain’s success is influenced by developers adapting Cardano. It is also determined by the number of applications linked to the network.
Other factors that have led to the success of Cardano’s network are stability and quick transactions. The platform also seems intent on working in these two areas, proving that its growth could be long-term.
However, Cardano has warned its users of difficulties in developmental stages. Despite this, Cardano attained an average blockchain load of 94.49%, which is its highest. Surprisingly, the network has managed to sustain this for a week, which has never happened before.
There has been improvement in several metrics indicating that the smart contract functionality has enhanced activity on the platform. Furthermore, Cardano has had more volume and cheaper fees than its competitors, including Ethereum.
The Alonzo upgrade is part of the Goguen era
The Alonzo upgrade’s launch aligns with Cardano’s Goguen era, named after Professor Joseph Goguen, a computer scientist at the Universities of Oxford and California. The success of the program shows that Plutus is now popular with developers.
Cardano has organized its development into five was. These are Byron, Shelley, Goguen, Bashon, and Voltaire. The platform centers them around set functionality that it delivers with specific code releases.
Cardano’s founder, Charles Hoskinson, believes platforms like Cardano will be more prevalent in the future with mainstream users. The Cardano network had the most developer activity in the crypto industry than other platforms such as Polkadot, Kassam, and Ethereum.