Cardano (ADA) kept a portion of its earnings from the weeks before the crash. At the time of writing, the fifth cryptocurrency by market capitalization is trading at $1.50 with moderate losses on the weekly chart.
ADA moves with general market sentiment, hesitant, and with no clear direction. However, Cardano is optimistic about the deployment of its smart contract capabilities, and IOG, its developer, has made significant progress.
At the beginning of June, this company launched the first Alonzo-era testnet for the platform, AlonzoBlue. This phase of Cardano’s development is aimed at stress testing the smart contract platform, Plutos. IOG’s Media Department announce:
This week, Plutus’ first simple smart contract was successfully commissioned on the AlonzoBlue Cardano testnet.
Tim Harrison, IOG’s Director of Marketing, the company’s head of delivery, Nigel Hemsley, and head of delivery, Dimitris Polopoulos, delve into this smart contract for the first time. Hemsley said that contributor pool operators (SPOs) successfully managed the nodes, and these community members were a key component of “resolving a range of issues.”
The Pioneers and IOG Partners also turned on their nodes and started their first exercises. Like NewsBTC mentioned Two weeks ago, Alonzo’s test network will have several color-coded phases (blue, white, purple, and two small phases called red and black) before it is implemented.
Each will have a specific set of goals and exercises that the IOG and participants will have to complete, from the special stage to the public stage. AlonzoBlue will verify basic network functionality, initial distribution of ADA to SPOs using simple Plutus scripts, and others. Polopoulos added:
We can talk to knot Alonzo. The pilot can create a very simple smart contract and move it to the ledger. Therefore, they can write their first smart contract against our network.
Where is Cardano heading next?
Simple smart contracts that can be deployed AlonzoBlue from Cardano can have different applications, Polopoulos said. IOG’s head of delivery said that although Alonzo did not run a “fancier” smart contract, this marked a milestone for the platform.
For now, AlonzoBlue’s stability is the priority. Next, the IOG will turn to AlonzoWhite, SPOs, pioneers, and partners to “spin” a new node. At this point, Hemsley said, IOG engineers will be integrating larger components for Plutus.
IOG has received a lot of comments from social communication Via GitHub and Discord, Poulopoulos added. To conclude with AlonzoBlue, developers expect to build trust in the network and its components. Head of Delivery at IOG said:
Once they (the pioneers and partners) can demonstrate their ability to successfully submit, validate and implement, we will be ready for (Alonzo) White.