The March 2021 issue of Cardano 360 revealed some interesting information. Charles Hoskinson, CEO of IOHK, announced through this more than three-hour event that there was a rollout plan for Alanzo’s hard fork. With this hard fork, the fourth largest blockchain in the world, Cardano, can have intelligent contract functions.
plans for the future
The roadmap presented for the event showed that the Alanzo test network can be live and operational as early as next month. For the first time in Cardano’s history, developers can deploy smart contracts in the test network. Thanks to all of this, these developers will be able to do everything from DEXes to dApps to DeFi protocols. The so-called “Pioneers Testnet”, which is to take place at the end of April or beginning of May, already has a total of 1,300 people who apply to take part.
According to this plan, a code freeze will begin in June, which will take place after a few months of testing. This in turn would start the clock to hard branch the mainnet network and introduce Cardano to smart contracts overall.
Massive potential for Cardano
With the launch of the Alanzo mainnet, which is expected to take place in August this year, a number of new applications could be geared towards going live right from the start. One of the main selling points for these upcoming plans is an application in Plutus, a programming language that the Cardano developers have already introduced.
This application would allow users to exchange tokens within the Cardano network, opening up the potential to compete with the Ethereum DeFi realm, especially its decentralized exchanges (DEXes). Of these DEXes, no name is more prominent than Uniswap.
Now it should be noted that Cardano has already had its fair share of hard forks after going through two HFC (Hard Fork Combinator) events in the past few months alone. The first hard fork, Allegra, enabled token locking within the protocol and became operational as early as December last year.
The Mary fork came after bringing domestic assets to the blockchain and was successfully forked back in March. With the upcoming Alanzo fork, this could be the last piece Cardano needs to step into the Goguan era.
The possibilities are endless
Time will tell how successful the project will be in the future, but Cardano is pushing to innovate its smart contract handling network to stay relevant in the ever-evolving DeFi space. The decision to settle for Ethereum, the gold standard in DeFi for the crypto space, means it will likely see some success.
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