While the cryptocurrency market in general appears weak and volatile during this period, the fifth largest cryptocurrency in the world, the “ADA” Cardano coin, is showing remarkable movements!
At the time of writing this article, Cardano’s price is up nearly 4% and trading at $1.35 with a total market capitalization of $43 billion.
Optimism about ADA is backed by positive comments from its founder, Charles Hoskinson, about introducing smart contract features on the blockchain.
The Cardano community has been eagerly awaiting this upgrade.
Hoskinson confirmed that shortly after Alonzo’s split and upgrade, smart contracts would be available on the network.
He added that over time, Cardano’s infrastructure would become more efficient.
The announcement came during Hoskinson’s live broadcast exactly last week on July 30.
Hoskinson also noted that several developments are taking place simultaneously in preparation for the next upgrade.
Upgrade time frame:
Lately, Charles Hoskinson has received some criticism for pushing further deadlines on some major network promotions to later times.
In his latest live broadcast, Hoskinson said the infrastructure split and upgrade will be available from August to September.
He further added:
Cardano users (ADA) will be able to run smart contracts the moment the split comes up on Cardano’s infrastructure and build an increasingly better environment for developing and deploying Cardano applications.
Cardano will present Alonzo’s next split in three stages, and these stages are named in the following colors:
Blue, white and purple.
Each of these stages will make the public aware of the jobs offered.
Cardano’s ADA cryptocurrency was one of the best performing coins this year.
At its current price of $1.34, ADA has gained 600% year-to-date.
The cryptocurrency has quickly made its way to becoming the fifth largest digital currency by total market capitalization.
Will it continue to advance to advanced ranks after the introduction of the expected updates?