Cardano’s latest protocol update will be a game-changer and could play a key role in triggering the ascent for the ADA price.
Alonzo promises major makeover
IOHK, the development team behind Cardano, announced the next protocol level update for Cardano, known as “Alonzo.” The roadmap reveals that this upgrade will arrive in the summer of this year.
The recent announcement reads,
Alonzo will add support for smart contracts – digital agreements – to Cardano about four months from now. It will open up opportunities for businesses and developers, by allowing the creation of smart contracts and decentralized applications (DApps) for decentralized finance (DeFi).
The latest announcement comes after Cardano received two critical updates, the multi-asset support functionality and the Plutus platform. These updates will serve as a foundation on which the Alonzo update will be built.
This development will be implemented using IOHK’s hard fork combinator technology and will make Cardano a versatile platform for building smart contracts that fuel business needs.
TECHNICAL ANALYSIS:
ADA has been consolidating for the past 6 weeks. A conviction break-out and close above its 2018 high could potentially signal the beginning of the next rally.
Additional Reference : youtu.be/Iyy2-FUAFcU
Alonzo promises major makeover
IOHK, the development team behind Cardano, announced the next protocol level update for Cardano, known as “Alonzo.” The roadmap reveals that this upgrade will arrive in the summer of this year.
The recent announcement reads,
Alonzo will add support for smart contracts – digital agreements – to Cardano about four months from now. It will open up opportunities for businesses and developers, by allowing the creation of smart contracts and decentralized applications (DApps) for decentralized finance (DeFi).
The latest announcement comes after Cardano received two critical updates, the multi-asset support functionality and the Plutus platform. These updates will serve as a foundation on which the Alonzo update will be built.
This development will be implemented using IOHK’s hard fork combinator technology and will make Cardano a versatile platform for building smart contracts that fuel business needs.
TECHNICAL ANALYSIS:
ADA has been consolidating for the past 6 weeks. A conviction break-out and close above its 2018 high could potentially signal the beginning of the next rally.
Additional Reference : youtu.be/Iyy2-FUAFcU
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