Today is the day Cardano (CCC:ADA-USD) fans have all been waiting for. Amid the many blockchain network upgrades taking place this summer, Cardano’s has been one of the most hotly anticipated. And today, fans of the Cardano crypto have some insight into when we can expect the long-teased hard fork. A conversation between developers is providing all the timeline details and more.
Alonzo Purple will be the third of the Alonzo upgrades for the Cardano network and one of the most important. The Purple fork will see the full implementation of smart contracts on the network. No longer will Cardano users be subject to third-party transaction facilitation. Indeed, the whole network will see a performance boost, as transactions occur with a previously unseen efficiency. It will also allow the network to reach into new corners of the market, such as NFT sales.
Cardano Crypto Bulls Prepare for Sept. 12 Smart Contract Rollout
Just days ago, Charles Hoskinson posted an update video on Twitter, talking about the big reveal of Alonzo Purple. Hoskinson told investors to sit tight, as a full reveal of the timeline would be coming on Friday. Well, early this morning, the video reached investors.
In it, developers unveil the Sept. 12 date for the full mainnet Alonzo Purple upgrade. Of course, the upgrade will reach the network’s test network first, to ensure all bugs are worked through; barring any major flaws, Sept. 12 is the hard-set date for the full rollout. In the meantime, developers are conducting rigorous testing of the various facets of the upgrade; most importantly, they say they are testing the node — the computer that reads and interprets the contracts — to ensure the upgraded network will be able to scale transactions efficiently.
Ahead of the upgrade, Cardano’s ADA crypto continues to pile up value. The coin is up over 14% this morning. The network is also rapidly accruing capital, which has allowed it to surge past Tether (CCC:USDT-USD) and become the fourth-largest cryptocurrency.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.