- Cardano’s Alonzo mainnet hard fork will go live soon.
- The CEO, Charles Hoskinson, tweets about ushering in a new era for Cardano.
- Alonzo is using the eUTXO model for its smart contracts.
Tomorrow is the big day! We are entering a new Era of Cardano.
— Charles Hoskinson (@IOHK_Charles) September 12, 2021
As we can see from this tweet, he is looking forward to ushering in a new era for Cardano. Once the Alonzo mainnet makes its debut, it will open the doors to a whole new realm of possibilities.
To highlight, one of the biggest reasons to celebrate is the fact that once this goes live, users on ADA’s network will be able to deploy their very own smart contracts. This means that DApps, blockchain games, and NFTs will see a whole new suite of features.
Not to mention, the DeFi sector will likely see a further boom from the new update. There are also many perks that investors and traders can benefit from. This includes faster speeds, low transaction costs, interoperability, and so much more.
In detail, Alonzo’s smart contract model is the Extended Unspent Transaction Output (eUTXO). It provides heightened security, boosts execution cost predictability, and proposes a unique approach to parallelization.
By elevating parallelism, there is an opportunity for Cardano to increase throughput, improve performance, and offer scalability. The project is backed by a dedicated community that believes in it just as much as its creator.
After the launch, Cardano will move on to its next phase. On the horizon are Hydra Layer 2 project, Plutus Core, Genesis, and others. For those curious to see what comes next, register for the Cardano Summit 2021 now.