Post-Alonzo Update: Cardano Yet to Support Full dApps
Three key features are missing on the Cardano Network before full dApps can be launched on the blockchain. Continue reading Post-Alonzo Update: Cardano Yet to Support Full dApps at DailyCoin.com.
- The Alonzo update promised to bring to the Cardano Network support for smart contracts and dApp functionality
- Three key features are missing on the Cardano Network before full dApps can be launched on the blockchain
- IOHK will need to implement Plutus Application Backend, dApp connector, and ERC-20 converter
- ADA is beginning to pick up traction, gaining more than 8% over the last 24 hours
The Cardano Alonzo launch generated some of the most buzz in the crypto industry. Finally, we thought that the Cardano network was ready to support smart contracts and dApp functionality. The event marked a creative turning point for the Cardano Network.
The IOHK team has even launched a Cardano dAppStore, promising to bring quality assurance to users. For quality assurance, the Cardano dAppStore allows users to review, upvote, and even certify programs. The Cardano dAppStore should mean Cardano is ready for dApps. But is it really ready?
IOHK Launches the Cardano dAppStore
Since its launch, Cardano has built a reputation for being an excellent development-driven project, and its dAppStore didn’t disappoint. The dAppStore was unveiled on September 25 at the Cardano Summit.
The Input-Output Hong Kong (IOHK), the development team behind Cardano, created the dApp store to avoid the network’s haphazard and random creation of dApps. According to IOHK, the store was created to aid navigation and, more importantly, act as a “quality assurance” mechanism.
According to the IOHK, the store will display both certified and uncertified dApps. However, a certified dApp has the added assurance of being put through a series of tests to verify its soundness as a protocol. While this undoubtedly solves a lot of problems, does Cardano Network now house dApps?
Why Isn’t Cardano Launching Any dApps?
Given all the buzz, users expected the launch of Alonzo to kickstart a bullish outbreak for the native token, ADA. However, there has been growing frustration among community members. One user on Twitter, @Niccens_Auso, wrote;
Cardano is easily the most frustrating coin to hodl...
— SafemoonMayhem (@Niccens_Auso) September 26, 2021Given all the buzz, users expected the launch of Alonzo to kickstart a bullish outbreak for the native token, ADA. However, there has been growing frustration among community members. One user on Twitter, @Niccens_Auso, wrote;
Giving $ADA and then the manipulator sell $ADA in Cardano summit. So clever, pump ADA then dump.
— OQS (@OQS01147599) September 26, 2021The increasing frustration among community members is due to the fact that the Cardano Network cannot support dApps or real dApps yet. Although Cardano completely supports smart contract functionality, some of the toolings required for dApps, applications to run through a web browser, are missing on the network.
The solution would be for Cardano to continue what it has excelled at, development. For dApps to be launched on the network, Cardano would need to implement the following features:
- Plutus Application Backend: to enable dApps to interact with the smart contracts that sit on-chain and for managing the requirements of the off-chain applications. While the version 0.0.1 of the PAB was released on September 24, its full functionality is yet to be finalized.
- dApp connector: completing the dApp connector will allow dApps to interact with wallets. As of October 5, this is yet to be completed. One developer wrote:
- ERC-20 converter: to allow Eth tokens to be converted into a format compatible with the Cardano blockchain. At the time of this writing, there is no news about its launch.
- While Cardano is yet to get the full dApp functionality, ADA is beginning to perform in the market
- Over the last 24 hours, ADA has gained more than 8%, now trading at $2.3561
The 24-hour price chart of Cardano (ADA). Source; Tradingview
Cardano is one of the biggest blockchain projects and is expected to grow even more with smart contracts. When dApps fully launch, perhaps the network will explore its full potential.
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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss
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Milko Trajcevski
Milko Trajcevski has been in the crypto world for years, and as such has gathered both a skill for writing as well as a native prowess when it comes to understanding everything that occurs within that world. Through skilled writing and determination, he covers articles about cryptocurrency, tokens, blockchain, crypto-asset regulations, crypto wallets, exchanges, liquidity, DApps, forks, mining, security, and blockchain technologies. He is a professional with a track record of proven expertise within the crypto space.
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