Charles Hoskinson informed the Cardano community about the timing of the next network update - Alonzo Purple.  The Alonzo update on the Cardano network goes through several stages.  The first one was Alonzo Blue, in July Alonzo White, the next one will be Alonzo Purple.  Upon completion of all stages, the network will be able to execute full-fledged smart contracts.  Cardano founder Charles Hoskinson is confident that the update will offer "a better environment for developing and deploying applications."  According to Cardano's roadmap, major network upgrades are scheduled for completion in early September.  Alonzo's hard fork rollout strategy: “We will know the final date based on the feedback we get from exchanges, EMURGO and other partners that need to integrate,” Hoskinson said during a live broadcast on YouTube.  He admitted that solving the problems of building an updated Cardano infrastructure requires a non-trivial approach and a lot of effort from the developers.  Ethereum, Cardano's main competitor and leader in decentralized applications, has yet to tackle the challenges of scalability, fees, and transaction speed.  This gives Cardano a chance to rank higher in the industry.  The Cardano network has reached 660,000 staking addresses, the total value of blocked coins in staking is about $ 29 billion, that is, almost 70% of the current ADA market capitalization of $ 43.4 billion.

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