Cardano is seeing an exponential increase in developer interest ahead of the launch of smart contracts
The Cardano network is set to release one of its most anticipated updates soon, the Alonzo hard fork. This update, which is enabled by the Plutus platform, will bring the functionality of smart contracts to the ecosystem. In the lead-up to the Alonzo update, the Cardano ecosystem is seeing a surge in interest from developers.
The upcoming launch of Smart Contracts attracted “huge” interest from developers
Cardano is popularly touted as the "Ethereum Killer" that will ultimately steal the market that Ethereum currently boasts of. In particular, many other projects like Solano and Polkadot aim to dethrone Ethereum, but Cardano is arguably the main contender so far.
Cardano, led by Charles Hoskinson, was built literally from the ground up with the help of academic research and peer review. Although most experts have already criticized Cardano for its slow development, others believe that it is one of the best-designed ecosystems in the cryptoverse.
The Cardano team has also been frank in identifying blockchain developments. In fact, the network has seen impressive developments in recent months. The most recent update is Alonzo testnet, which has a tentative rollout date set for the end of this month.
As this launch approaches, IOHK Director of Marketing and Communications Tim Harrison has observed that the interest of developers increases rapidly. As a result, they seek to create a “dedicated team” to help bring more people into the growing Cardano community.
Although smart contracts are not yet live on Cardano, network developers have taken advantage of the non-fungible token craze by finding ways to mint and sell NFTs.
Cardano's previous update early last month, Mary, introduced the ability for users to create their own unique tokens. This means that the update transformed Cardano into a multi-asset blockchain.
Alonzo's incoming update is the final phase of the Goyuen era. Once this is complete, the Cardano network will enter the era of Basho, which will introduce governance and scalability.
Cardano founder Hoskinson recently posited that by the time these updates are successfully integrated, a vast majority of developers and users looking to dodge exorbitant fees will migrate from Ethereum to Cardano.
“None of these protocols are loyal to Ethereum, they are only there because they have the advantage of being the first to move, but the moment the infrastructure wakes up a bit, it will be much easier to have a mass exodus. And that's probably what's going to happen because why else would they want to stay if they have to pay fees of $ 50 or $ 70?