Get the scoop on finance - sign up for mobile alerts
Altcoins
| On
August 28, 2021

Cardano Enters ‘Final, Critical Stage’ Prior to Alonzo Upgrade Next Month: IOHK

By Daily Hodl Staff

Cardano has entered the “final, critical stage” prior to the platform’s much-publicized Alonzo upgrade, according to blockchain research and engineering company Input Output Hong Kong (IOHK).

IOHK has submitted an upgrade proposal to the Cardano testnet to “hardfork the chain into the Alonzo era,” according to a Twitter post from the company.

ADVERTISEMENT

The Cardano (ADA) developer says it is still targeting September 12th for the upgrade, which aims to bring smart contract functionality to the blockchain via a “hard fork combinator (HFC) event.”

IOHK says the development is a “major milestone” for the platform.

“Over the days ahead, we’ll be doing final checks and testing within a controlled environment to ensure that we are ready to upgrade the main Cardano network. And usher in a transformative era of smart contracts capability.”

According to Dimitris Poulopoulos, a project manager at IOHK, the window until September 12th will allow the company to identify and fix issues before the mainnet launch while monitoring the network to confirm stability.

ADVERTISEMENT

Cardano’s native asset ADA surged on Friday as the crypto market rebounded from a mid-week correction. At time of writing, the third-ranked crypto asset by market cap is trading at $2.87 and is up 13.7% in the past 24 hours, according to CoinGecko.

ADA hit its all-time high of $2.95 on Monday.

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
&nbsp
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/O-IAHI