With the Alonzo main net update, Cardano will enter the Goguen era. The Goguen era will be the era of smart contracts.
Cardano founder Charles Hoskinson sees a possibility of collaboration with Solana.
Cardano is the talk of the town, with the testnet being released on the 1st of September, and the main net scheduled on the 12th of September. Coinpedia earlier reported about the possible ‘buy the rumour, sell the news’ trap for ADA. But the ADA price has now surpassed the $3 mark and is racing ahead as the big day inches closer. The 24-hour gains are at an impressive 10.8% at the press time.
Alonzo hard fork is a part of the Goguen era. That represents a big step forward in the abilities of the network, with smart contracts coming into place. While the Shelly era decentralizes the core of the system, the Goguen era will add the ability to build Dapps on the platform. Hence, a massive bull run could follow as the ecosystem dives deeper into the decentralized system.
Cardano Price Could Hit $5 With These Upgrades
According to Cardano’s website, that the development of the Goguen era is executing in parallel with the Shelly era. The updates will bring tremendous changes to the ecosystem. When complete, the platform will enable both technical and non-technical users, create and execute smart contracts on the network.
Plutus is a smart contract development language and execution platform created by Cardano. This allows one codebase to support both off-chain and on-chain components. This will improve the coherency and usability of the development experience. In order to allow the platform to be accessible for a wider user base, the makers have created “Marlowe”.
Consequently, Marlowe is a high-level domain-specific language (DSL) for financial contracts built on Plutus. Marlowe will be paired with the Marlowe Playground. This is a platform that allows users without the expertise of coding to build financial smart contracts. The combination of Plutus and Marlowe will enable large-scale implementation in the real world.
The era will also introduce a multi-currency ledger, that will enable users to create new natively supported tokens, leading to the creation of fungible tokens and NFT’s. As well as the development of new cryptocurrencies based on Cardano and tokenization of physical assets.
Is Cardano collaborating With Solana?
As Cardano and Solana, both maintained a decent uptrend, yet the rounds of both joining hands surrounds the crypto space. Amidst the buzz, IOHK founder Charles Hoskinson put up a clarification that the decision-making is at the centre of the community, and not his call to make.
However, he stated that if it is to happen, it will be an area of economic collaboration, or scientific collaboration, or engineering collaboration. He also revealed that Solana’s team had shared several project links. And hence one can expect a pretty good future for the Cardano price and Solana price if the partnership materializes.
In conclusion, the upgrades will have a significant impact on the coin, both in terms of price and the ecosystem of the platform. With future phases, wherein the Basho era will represent scalability, and the Voltaire era representing governance, ADA will be a benchmark in the crypto space.