On September 7, Charles Hoskinson reconfirmed IOHK’s tweet about submitting a proposal for the smart contract launch. Hoskinson confirmed that Cardano’s smart contract program will be active on September 12.
proposal is intended to trigger the Cardano network’s Alonzo Harfork event on Sunday.
Smart contract support coming soon
Tuesday, IOHK and Charles Hoskinson Announced that they have already submitted a proposal to trigger the launch of the smart contract. IOHK has been famous for the Cardano network developments for several years. Cardano has been planning to implement Dapp support for years. project has progressed since the beginning of this year with the gradual introduction of Alonzo.
A member of the IOHK team named Sam presented the HFC upgrade proposal around 5:26 pm. This Plutus update will go into effect on Sunday the 12th at exactly 21:44:51 UTC. So Cardano’s long-awaited Defi support is coming soon. According to IOG, this network update is the largest in the last four years. Includes the Smart Contract Services Tool and other software compatibility updates. IOHK wrote;
«Sunday, Plutus core #smartcontratti capacity will be distributed to #Cardano mainnet using our exclusive HFC technology. Along with compatibility updates for the entire software stack.
This update marks the beginning of a new phase in Cardano’s smart contract development. Dapp. It’s time for crypto stakeholders to prepare for the next support. To usher in the update, Cardano will host a live event on Sunday.
Mixed feelings about launch
Recently, there have been mixed feelings regarding the launch of Plutus. Eg Eric Wall, the CIO of Arcane Assets, was recently very strong against Cardano. He criticized the development mechanism and other attributes of the Cardano project. wall is not the only criticism.
Immediately after IOHK’s announcement, several critics responded to the posts. One noted that Solana’s recent price actions show that it has more consumer confidence than Cardano. Other users on and Reddit have also criticized the sustainability of Cardano’s UTxO.
Critics seem to be excited about competing projects whose intentions may be to bring down Cardano. Still, Cardano enthusiasts love the steps this project is taking.
Actions on current prices of $ ADA
IOHK’s recent announcement did not have a major impact on Ada’s prices. markets, in fact, continued with a decline that began a few hours before the announcement.
At the time of this writing, Cardano is trading at $ 2.35, which is roughly 16% lower than yesterday’s value. Price actions followed the course of a bearish pattern currently underway.
Cardano stakeholders anticipate that support for smart contracts will trigger positive price movements. Experts believe that Cardano will close the year at just over $ 5. It is entirely possible if the project gets Defi and NFT adopters immediately after launch.
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