‘Ghost chain’ to start ‘ghostbusting’ - Cardano getting ready for Alonzo hard fork

Sun 12 Sep 2021 ▪ 10h46 ▪ 3 min read — by James Taylor

The ADA community has been waiting for the upcoming upgrade for a while now. It will allow users to create smart contracts as well as non-fungible tokens (NTFs) on Cardano – something everyone is so excited about.  People seem to have divided into two camps: some support Cardano, looking forward to the upgrade. Others resort to harsh criticism, waiting for the upgrade to flop.

In view of these events, IOHK founder and CEO Charles Hoskinson stated that the much-awaited update will bring “programmability” to the blockchain.

In an interview with Businessinsider, Hoskinson said that one of Cardano’s ‘magical superpowers’ was that it was created with upgradability in mind, adding that “Cardano now supports programmability. That’s like when JavaScript came to the web browser. So, you go from static boring web pages to Facebook and Google and YouTube.”

With interest in cryptocurrencies growing, a blockchain offering more opportunities will definitely have an upper hand in terms of adoption. That’s why the latest Cardano update has been so successful. People may use ADA tokens to buy NFTs or participate in online games.

Cardano’s fierce competitor, Ethereum, features smart contracts – an immensely popular feature within the crypto community. With its latest upgrade, Cardano will also add smart contract capabilities to its blockchain, allowing two or more parties to make transactions without commercial banks or brokers. With decentralised finance gaining momentum, the use of smart contracts is also bound to rise over time.

Cardano was once dubbed a ‘ghost chain’ due to its blockchain being worth billions but having limited utility. But Cardano is entering a new era now. “It’ll be a fun day. Everybody used to call us ‘the ghost chain’, and I bought the Ghostbusters uniform, so come September 12, I’ll be wearing it and we’ll have some fun,” Hoskinson noted.

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James Taylor

Trends are temporary. The blockchain isn’t a trend; it’s the future. I want to help as many people as possible understand it in a simple, clear and interesting way.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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