Hoskinson Says Cardano’s Alonzo HardFork Can Enable Users to Run Smart Contracts

Cardano (ADA) users will run smart contracts on the network once the Blockchain completes its Alonzo Hardfork. That is according to Charles Hoskinson ADA's founder. Mr. Hoskinson revealed the news through a YouTube live stream.  The announcement paves the way for Cardano to enter the Smart Contract sector, challenging Ethereum's supremacy in the space. It will come as welcome news for ADA holders and neutrals who've been looking for alternatives besides the Ethereum Network(ETH). A significant gripe against ETH has…

A Look into Hybrid Smart Contracts; What are Their Uses?

Smart contracts were introduced in 2015 with the introduction of the Ethereum network. Their role was to digitize and tokenize financial and non-financial services like payments, trading, etc. Through the use of smart contracts, the process of signing contracts is highly simplified, only following the blockchain.  Primarily, smart contracts are not bound by a particular jurisdiction; therefore, they can operate on a global level.    However, one problem associated with making smart contracts is that they cannot access off-chain data. Instead,…

Smart Contracts Now Accumulate Nearly 25% of Ethereum’s Total Supply

According to insights by the ETHhub founder Anthony Sassano, smart contracts account for Ethereum worth $63 billion. The value follows up on the Decentralized Autonomous Organization (DAO) event, which took place in 2016 and had Ethereum worth $230 million. Ideally, smart contracts are a pioneering technology residing on a blockchain that enables parties to make agreements through a code. Unfortunately, data also shows that huge chunks of ETH withdrawals make their way into DeFi applications and smart contracts, leaving exchanges…

Alonzo is Finally Here, Bringing Along Cardano Smart Contracts

The much-awaited milestone on the Cardano network is finally here. According to the June updates, Tim Harrison, the marketing director of IOHK, confirmed that the first smart contracts of Cardano's testnet Alonzo are finally up and running. Cardano Smart Contracts The basis of programmable smart contracts in the Cardano network is Alonzo Blue. Alonzo is deployed on the mainnet via multiple testnet so that their partners and pioneers can check Plutus Core during May and June before code freezes by…

A Guide to Efforce (WOZX) – The Blockchain Marketplace with a Planet-Saving Mission

Not long ago, Elon Musk called out Bitcoin for its mining mechanisms to wreak havoc on the environment. His apparently innocent tweet dragged the entire crypto market back into bear territory after one of the most impressive bull runs in its history. Besides that, it also raised the question - can cryptocurrencies be eco-friendly? The answer came from the legendary Apple co-founder, Steve Wozniak, and his new project, Efforce. His vision is that of a “revolutionary platform aiming at increasing…

Cardano Unveils Alonzo Testnet in Dawning of Smart Contracts

Input-Output Hong Kong, one of the companies behind the Cardano blockchain, has unveiled its plan for the rollout of its new smart contract platform on May 27. Alonzo will be implemented in September 2021 as the next step in a series of upgrades to the blockchain. It is a hard fork that consists of a series of color-coded testnets. IOG has started the Alonzo Blue test, which will bring new features like smart contracts on the Cardano network and a…

Theta (THETA) Labs Announces Smart Contract Deployment on Mainnet

Theta Labs, the development team behind Theta blockchain, has revealed plans to deploy a smart contract on its Mainnet. This was revealed in a blog post where it highlighted other developments planned for the blockchain. Smart Contract To Launch On December 10 Theta Labs stated that the smart contract was a key development for the blockchain and will go live on December 10 by 12 pm UTC. The development team also revealed that the smart contract resulted from months of…

The DAO Hack Report and Its Ongoing Implications to Cryptocurrency

Ethereum is one of the top digital currencies shaping the decentralized ledger technology. It's a community blockchain behind the Ether (ETH) cryptocurrency and thousands of dApps. According to CoinMarketCap, ETH is the second-highest traded (over $5,776,058,511 in 24hrs, at the time of writing) coin behind BTC. Ethereum is considered the most stable blockchain hence the preferred infrastructure for most stable coins. However, the blockchain is associated with some minimal flaws. Among these is an attack on the DAO. This article will…

The Advent and Rise of BaaS – Blockchain as a Service

When Big Money Enters the Market A recent article in Bitcoin Magazine predicted that the blockchain technology market would reach $7.7 billion by 2024. However, many industry insiders put their figures much higher, particularly given the phenomenal gain in popularity of blockchain-based technologies resulting from 2017‘s meteoric rise of Bitcoin and other cryptocurrencies. Just about any company could find use in blockchain’s ability to keep immutable and transparent records. However, certain expectations have to be managed. Leadership must be clear…

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