News18 September 2021

Cardano Blockchain's Alonzo, Has Over 200 Smart Contracts Five Days After The Upgrade

Alonzo Has Over 200 Smart Contracts Five Days After Upgrade

Summary

· Cardano blockchain is getting a lot of interest from developers

· The Cardano is preparing itself for the second DeFi wave

Earlier in the week, the Cardano blockchain underwent an upgrade with the Alonzo hard fork. This upgrade highlighted the importance of smart contracts in the Cardano blockchain.

Since the upgrade, over 200 smart contracts have been listed on its blockchain explorer. Unfortunately, the smart contracts are in the timelock and unusable until release. The Vercel app indicates that over 2,300 smart contracts are preparing for launch.

On Friday, 17th September 2021, Charles Hoskinson, the Cardano founder, indicated that DeFi is open for taking. The statement came in the wake of the Cardano founder expressing his confidence in the smart contract release.

Regulators in the DeFi space are keen on scrutiny. Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), stated that the Defi projects would not be exempted from the rules. Hoskinson indicated that the second wave DeFi winners would have enough interoperability and liquidity. They will also have the predictability of cost and can move multi-chain.

Cardano will be EVM (Ethereum Virtual Machine) compatible. It intends to entice DeFI developers who want to save on transaction costs. Cardano was absent in the first DeFi wave but fully intends to be present for the second wave.

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