Why is the Alonzo Upgrade Announcement Significant for Cardano (ADA)?
Those looking for some inspiration to start off with a new Cardano (ADA) project will do their best to check the showcase section in the Developer Portal. The showcase displays projects from people who are building with Cardano. There...
Those looking for some inspiration to start off with a new Cardano (ADA) project will do their best to check the showcase section in the Developer Portal.
The showcase displays projects from people who are building with Cardano. There are more than 65+ projects, which range from payment solutions to NFTs through wallets and analytic tools. Those who are a part of the action support the ADA community by sharing the capabilities of Cardano.
The capabilities of ADA are getting widely discussed. However, the price of ADA has gone up by more than 11 percent. Irrespective of the rank, ADA was widely known due to Charles Hoskinson frequently discussing with the community.
At its ATH price, Cardano has advanced in ranking beyond the Binance Native Token in terms of market capitalization. The total market cap is trending past $2 trillion. The price surge is happening following the announcement of the Alonzo upgrade.
The Alonzo upgrade announcement is significant because the upgrade will boost the Cardano project with fully functional and advanced smart contract solutions. With the upgrade, ADA will enter the Decentralized Application space empowered by the smart contract functionality.
After the update, it will be possible for anyone to create and deploy their own smart contracts on the Cardano blockchain. Thus, there will be more of native Dapps native to the Cardano blockchain hitting the space soon.
This upgrade will technically end the Shelley Era and kick start the Goguen phase. For those who are new, the different eras in the Cardano ecosystem are Byron, Shelley, Goguen, Basho, and Voltaire.
Ouroboros is a proof of stake protocol with incentives and a delegation scheme, which rewards the participants providing for better hard wallet support.
The excitement around the ADA token is slowly building up. Most of the investors believe in Cardano because it could be beneficial for the crypto space to create a lasting product with an academic level of scientific research. They are optimistic that it is going to pay off.
Community response: I have been laughed at for three years for buying ADA all the way down to .02, but guess who is laughing now. Congrats to those that never gave up on this project
The FOMO is back in-game. Great time to take profit if you were invested from $1 after the dip. So many souls will get REKT.
For clarity, REKT is an internet slang term spelt “wrecked,” which is often used in online gaming to indicate that someone has been defeated or embarrassed.
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