Hard fork Alonzo - Cardano (ADA) update coming September 12th

Cardano (ADA) is a network and a cryptocurrency that is being developed slowly, but has never disappointed investors' expectations. A strictly defined plan is carried out with surgical precision, which is undoubtedly appreciated by the market. 133,45% increase in the last month and 2215,34% during the year - these numbers are enough to confirm the above words. Another breakthrough is to be ready to be carried out Alonzo hard forkthat will allow Cardano to develop further.

Recall that Cardano (ADA) is part of our retirement portfoliobased on cryptocurrencies. Of course not by accident. It is a project that captivated investors with its consistency. There are no and never have been any announcements of fireworks in a few months, but a very specific, real and, above all, precisely implemented strategy. It has been developing harmoniously since 2015, unlike many other blockchain projects that can surprise. However, predictability is a huge advantage in this case.

Cardano is not developing on the basis of a business model, but an academic one. Changes are not introduced when users accept them - first, a positive opinion after long-term tests must be expressed by the IOHK company, which relies on testers from university academic staff. 

It is enough to take a look at the milestones in the development of the Cardano network so far to understand how cautious and thoughtful all changes are. The network has been operating since September 29.09.2017, 2020, but its first update took place only in mid-XNUMX, when ADA stacking was allowed and decentralization was improved. The next step is to be  "Goguen", i.e. permission to handle smart contracts and issue native tokens. Then it will be time for "Basho", which means improving scaling, and finally "Voltaire"that will allow on-chain management.

Alonzo - a hard fork of the Goguen era

We are currently in the Goguen era, and part of it will be the Alonzo hard fork, scheduled for September 12, 2021. And of course it has already been confirmed that everything will happen as planned.  After its implementation in the network, it will be possible to build decentralized applications, and it will also handle projects of decentralized finance (DeFi). The Alonzo update has been broken down into three stages: White, Blue and Purple. Now we are waiting for the last one. After its introduction, Cardano will be in line with such big players blockchain technology, How Ethereum, Binance or Polkadot.

After the changes, however, Cardano will offer even more. Thanks to it, you will be able to earn money on your work (music, graphics or journalism) without fear that someone will use our projects without payment. Everyone will be able to earn money on shared content and data. 

Cardano puts up with Ethereum

The Cardano network not only wants to fight Ethereum, but also openly admits that it wants to take part of the market directly from it. For this purpose, the ERC-20 converter is being created, which will make tokens placed on Ethereum easy to use on the Cardano blockchain. Migration will be possible both ways at any time. This bridge can help not only in the development of the network, but also in the adoption of all blockchain technology into the traditional economy. 

ADA cryptocurrency quotes

The constant development is clearly appealing to investors who buy tokens and often stack them immediately (put them into deposits), which allows them to earn interest. As of today, ADA is the most capitalized cryptocurrency in terms of coin stacking: the ADA has already been blocked for more than $ 48 billion, while the four times the capitalization of ETH is plummeting at $ 20 billion. 

Investors also have no right to complain about the increase in the value of the cryptocurrency itself. Only in the last month, ADA tokens increased by 133,45%, and during the year by as much as 2215,34%.

ADA / USDT token chart, D1 interval. Source: Binance platform