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All about the update Cardano

Posted by luba66 Lyubov Sultanova on August 26, 2021 - 6:51am Edited 8/26 at 6:53am


The Cardano Alonzo update brings the network closer to realizing its full capabilities.  What is the essence of the update and what stages is it divided into?

 The Alonzo hard fork is a major update to the Cardano network, which will activate the long-awaited smart contract feature.  After the update, the user can create their own smart contracts on the Cardano blockchain.  This opens up opportunities for the creation of decentralized applications (dApps).

 The developers plan to roll out the last phase of the update to the Cardano mainnet in September.  The hard fork marks the end of the Shelley era and the beginning of the Goguen phase.

 Era of Cardano

 Cardano's roadmap for development is divided into six main phases, each of which aims to expand the network.

 Byron.  Deploying the core Cardano code.  Users have the opportunity to exchange ADA and mine cryptoasset based on Proof of Stake (PoS) consensus.

 Shelley.  Attention is paid to the decentralization of the network for encouraging users to deploy Foundation nodes.  The main goal of the era is to make sure that nodes or individual computers are managed by a heterogeneous group of network participants, and not by a small centralized group of users.

 Goguin.  By activating the functionality of smart contracts on the network, developers can create decentralized applications on the Cardano blockchain.

 Basho.  Improving the performance of the Cardano network to handle more transactions and scale.  This era will enable the power of sidechains, a scaling tool using a blockchain “tree”.

 Voltaire.  System deployment and funding for community network management.  Users can influence their cryptoassets and influence the development of the network.

 Now Cardano is in the final stages of the Shelley era.  During this phase of development, many new features were added to Cardano, including the enhanced Ouroboros PoS protocol and staking and delegation pools.

 Cardano operates using its own "hard fork method" - a system that combines two different protocols (such as Byron and Shelley) into a single ledger to ensure a smooth transition between eras.  One of the problems Cardano developers faced when activating hard forks - after the update was approved, a significant part of the community did not switch to the new version.

 This could be due to the fact that users do not agree with the changes or did not update the wallets in time.  The method of combining hard forks allows you to run multiple versions of the blockchain at the same time, which ensures smooth transitions and no problems during updates.

 Alonzo's hard fork stages

 Alonzo's hard fork activation is divided into three stages:

 Alonzo Blue

 Alonzo White

 Alonzo Purple

 There are also two minor phases after Alonzo Purple - Alonzo Red and Alonzo Black.  At each stage, more users are added to the testnet and bug fixes are identified.  As part of Alonzo Blue, smart contracts were activated for about 50 network members - mainly staking operators.  Minor bugs were discovered and fixed at this stage.  According to the developers' plan, these standard bugs will appear and will be fixed as Alonzo is tested further.

 Alonzo White added more features to Alonzo Blue and expanded the circle of test participants.  Hundreds of new users went through a kind of "training camp" that helped test the capabilities of the network.  This experiment was conducted by IOHK, a Cardano development company run by Ethereum co-founder Charles Hoskinson (Charles Hoskinson).  The duration of the stage is about four weeks, it was launched in July.

 Alonzo Purple is a public testnet with several thousand users participating in it.  This stage is divided into two distinct phases: light purple and dark purple.  The first phase activates the ability to use simple smart contracts, and the second - more complex ones.

 This is followed by the final phases of Alonzo Red / Alonzo Black, intended for final bug fixing / code cleanup and preparation of the hard fork deployment.  After they are completed, it is difficult to make any changes to the update, so the developers pay special attention to these stages.

 Dividing each stage into a stage increases the developer's ability to fix bugs - the code is frozen, and the exchanges have time to prepare for the Cardano hard fork.  Deploying the Alonzo Mainnet will activate the final upgrade code.

 The transition of the network to the Goguen era is for the first time creating decentralized applications of the Cardano network thanks to the new capabilities of Alonzo smart contracts.  At this stage of development, they plan to launch a platform for smart contracts Plutus Platform, which gives users with different skill levels the ability to create decentralized applications.

 Plutus

 Plutus uses the Haskell programming language.  Plutus and Haskell share the same codebase for both on-net and off-net development.  This means that in essence the coding process is identical, so there will be no programming difficulties when developing smart contracts.

 This makes Plutus contracts even simpler and opens up testing opportunities - developers can improve their products for large projects.  Charles Hosinson explained that the choice of Haskell is due to the presence of code with a high degree of reliability.

 Pluto's core

 Plutus Core is a programming language that connects smart contracts to the final settlement layer, the Cardano blockchain.  When the developer finishes building the code with Plutus, it is compiled into Plutus Core, where the code is simplified for the Cardano blockchain.  This method allows Cardano to better process data and reduce the amount of space it occupies on the blockchain.

 In addition, the network supports Marlowe, a new domain-specific programming language that allows anyone to create and test their own smart contracts without having advanced programming knowledge.  Marlowe is built on top of Haskell and Plutus and includes the necessary elements to create smart contracts.

 Simplifying the process of creating smart contracts and expanding the development capabilities on Cardano opens up the opportunity for the development of many projects, including the decentralized financial projects (DeFi) industry.  Developers of projects requiring high transaction speed can be helpful in deploying on Cardano.  After activating Alonzo, more than 65 projects are planning to roll out on this blockchain, including Synthesis, Miniswap, Stasis, and CardWallet.

Sincerely, Lyubov Sultanova. Join the social network Markethive.When registering, get 500 Hivecoin.Link:

https://markethive.com/luba66/page/luba66

Svetlana N Thanks for sharing
October 17, 2021 at 4:29am
Bill Rippel Thanks for sharing this update on the Cardano update. Sounds awesome.
August 26, 2021 at 4:19pm
Simon Keighley The Alonzo hard fork is a major upgrade to the Cardano blockchain - thanks for explaining how the 3 stages work, Lyubov - great info.
August 26, 2021 at 8:28am