The expected update day for Cardano (ADA) investors has officially arrived and the update has been carried out.
The company behind Cardano Input Output HK According to the information shared by Cardano, the Cardano update was officially completed and smart contracts were used in the network with the Alonzo hard fork.
Cardano Completes Alonzo
Thanks to smart contract support, different DeFi applications and even NFTs can now be used in the network. In his statement on the subject, Cardano CEO Charles Hoskinson emphasized that the future of the platform is very bright thanks to smart contracts and stated that he expects the entire crypto money industry to actually benefit from this.
1/2 Upgrade successful.
Moments ago, we deployed the #Alonzo upgrade at the epoch rollover.
— Input Output (@InputOutputHK) September 12, 2021
So what has changed in the network with the Alonzo hard fork, and what exactly has happened to the price? Cardano can also join the NFT and DeFi craze that has been talked about lately, and the ADA price has actually been rising with the expectation of this for months. Although ADA, which went up to above 3 dollars, sees below 3 dollars again with the ensuing market-wide decline, the effect of this hard fork is expected to be seen in the long term.
With Cardano’s hard fork, new applications may start to appear on the network and the price may break records, especially with an NFT collection. The main driver for Solana to break the record was the NFT collections on the network, and this can now be expected for ADA as well.