Smart Contracts to Be Included in Cardano’s (ADA) Alonzo Update • Coinexc

The developer team of the Cardano (ADA) blockchain shared some information about the Alonzo update.

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The Mary version was released in March and it was stated that the Alonzo update will take place next August.

Cardano’s developer, IOHK, announced this week that support for smart contracts will be added to the Cardano network in the Alonzo update. With the update, developers will be able to use smart contracts on the Cardano network, just like the Ethereum (ETH) network.

IOHK states that the update aims to support businesses and provide support for developers who want to build DeFi dApps:

“Smart contracts mark the next stage in Cardano’s evolution as a globally distributed ledger. The network must ensure that day-to-day work gets done, while ensuring that people can move their funds and pay for products securely. “

Smart contracts help make a transaction or a purchase only for certain conditions. In this way, secure deals can be made.

It is stated that IOHK will allow users to test the new product in May and June. This will give cryptocurrency exchanges and wallets preparation time for updates.

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