IOHK, the company behind the cryptocurrency with the third-highest market cap, reported that they have almost attained the target for Alonzo-ready stake pools. The number of pools ready for the Alonzo upgrade has almost doubled even though the figure of 70%, as expected, hasn’t been reached.
64% of pools have been upgraded toward September 6
64% of Cardano stake pools are now ready for the Alonzo upgrade, a bit short of the target 70% upgrade to the 1.29.0 Alonzo node by today, September 6. The hard fork is scheduled on September 12. Cardano developers expect four-fifths of pools to be ready by then. PoolTool provided the data on the upgraded stake pools.
Charles Hoskinson addresses “noise” via video stream
IOG CEO and Cardano founder Charles Hoskinson posted a video stream, in which he addressed the recent smear campaign against Cardano initiated by Anthony Sassano, a well-known member of the Ethereum community and the co-founder of Ethhub.io. Sassano posted screenshots from Reddit on his Twitter page, indicating that the Minswap swap exchange that went live on Cardano had some big problems.
It emerged that the network’s EUTXO could handle just one transaction per block, making Minswap useless and leading many to think that the smart contracts being tested on Cardano don’t work and that their blockchain is broken. The IOG CEO has called this “noise and FUD”. His team clarified the issue and explained how they are dealing with it.
What you need to know about Cardano’s Alonzo update
The update takes the network in the direction of realizing its full capabilities. The hard fork will implement smart contract functionality, which all stakeholders have looked forward to for quite some time. Smart contracts are elements of computer code, which are executed automatically at a point when certain prerequisites are fulfilled.
The hard fork will pave the way for native decentralized applications because after it, it will be possible for anyone to create and deploy their own smart contracts on the cryptocurrency’s blockchain.
Rolls out in third quarter
The Alonzo update will roll out fully in the third quarter of 2021. It marks the end of the Shelley phase and ushers in the Goguen era. Developers throughout the ecosystem have stuck to a defined road map with specific milestones in the form of eras and worked hard on testnets even though no date for the end of the update has been set.
If you’re interested in investing in Cardano, check out our guide on how to buy Cardano online.
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