Cardano has completed an upgrade that will mean it can bring advanced smart contracts and DeFi to its blockchain
Cardanowill now be able to offer smart contracts and other blockchainapplications.
- This 2nd stage in a multi-stage "alonzo" process is called "alonzo white".
- The upgrade could help the company compete with the popular
The cardano network has completed an upgrade that will allow it to incorporate more advanced smart contracts and
The Swiss company's developer Input Output HK, a research and blockchain engineering firm, made the announcement in a tweet on Wednesday.
Smart contracts are effectively contracts that execute automatically once a series of conditions have been met. They also allow engineers to use the blockchain to perform a range of functions like send information, or documents. DeFi applications allow two counterparties to exchange capital, or assets, without an intermediary.
The network's native
Input Output HK said it would monitor the network over the course of Thursday.
"We expect a number of updates as we add features to alonzo white," the company added on Twitter.
This was the first in cardano's "alonzo" series of upgrades that is scheduled to finish in September.
Cardano's alonzo plans should help the company compete with the likes of the ethereum network, whose blockchain underpins the majority of existing DeFi applications and smart contracts.
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