Cardano’s Hard Fork Alonzo: What will it bring and why is it so much talked about?

Cardano, the project that competes directly with Ethereum, recently announced that they are nearing completion with the Goguen update; that as we well know, will definitely bring smart contracts and DApps to the project ecosystem. To be exact, the Hard Fork Alonzo Purple, the last of Goguen’s phases, will be concluded.

It is important to bear in mind that if the fork is successful, the project in question could attract a series of investors who are still waiting for scalability solutions in Ethereum and other changes. Therefore, it is certain that an extremely notable increase in its price will be seen during the next few days; It is an imminent event, the FOMO has invaded many investors, leading them to buy even more the ADA token.

Just a few weeks ago, the Cardano token, ADA, was trading below $ 2, and as of today it was close to hitting $ 3, reaching exactly $ 2.97.

What to expect from the Hard Fork Alonzo?

First of all, let’s remember that Cardano’s roadmap is divided into 5 phases, and the third of them is Goguen. Here they highlight that this “era” is a great step for the project, because it will be able to increase scalability after implementing smart contracts and the possibility of creating decentralized applications.

This will also allow users to tokenize applications, either with fungible or non-fungible digital assets. Which clearly would increase the demand for base tokens, which would be the ADAs.

Without a doubt, it is the brightest part of the roadmap; as well as the most anticipated by investors and holders of Cardano (ADA). This is why the announcement of the completion date of the Hard Fork Alonzo Purple has been so important to the crypto community.

The Hard Fork is scheduled for September 12, the Cardano CEO announced at a conference. However, there will be more issues to consider that could end up alternating the date of Alonzo’s completion, he noted.

In short, it is a long-awaited update for large projects and high-budget investors. And this could position Cardano (ADA) above Ethereum, making it a leader in the DeFi sector.

Integration in the Japanese exchange Bitpoint in September

Regarding other relevant news for Cardano, it is worth noting that it was also announced days ago that the integration of the token will take place in the Japanese cryptocurrency exchange Bitpoint. And they are not speculations, since the CTO and co-founder of DcSpark confirmed the news through his Twitter profile.

It is important to remember that in Japan the laws for cryptocurrency exchanges are quite strict. Therefore, the fact that Cardano (ADA) can be acquired in one of the exchange portals in the country is beneficial for the project, since it will be exposed to a new public that is eager to invest in crypto. This would trigger an effect similar to what occurs with cryptos when listed on Coinbase or Binance.

In addition, a great event is planned for September 25 and 26: Cardano Summit 2021. Good times are undoubtedly ahead for cryptocurrency.

We would like to say thanks to the author of this article for this amazing material

Cardano’s Hard Fork Alonzo: What will it bring and why is it so much talked about?

Dispensary Business News