ADA Looks Ready For A Major Run

Photo by Executium on Unsplash

The Cardano (ADA) blockchain has been in the minds of many crypto investors recently. This is thanks to the successful launch of its Alonzo blockchain.

Now that Alonzo is live and ready to roll, Cardano’s developers – Input Output Hong Kong (IOHK) and the Cardano Foundation have been making significant moves to boost its profile. These efforts are starting to yield fruit, much to the benefit of ADA investors.

A Background to the Alonzo Upgrade

Alonzo is central to Cardano’s objective of becoming the top blockchain platform. The hard fork was implemented weeks ago. It essentially introduces smart contracts to Cardano and makes it more functional for building decentralized applications (dApps). Thanks to Alonzo, builders in the decentralized finance (DeFi), non-fungible (NFT), and blockchain development space can also use Cardano.

The platform implemented Alonzo in early September. Since then, Cardano has immediately gone on a campaign to increase its awareness. The Foundation has touted its blockchain’s effectiveness and encouraged people to build on it. As the early results show, the strategy appears to be yielding some fruit.

Data showed that over 200 smart contracts were built and pushed to Cardano as of last weekend. This already indicates considerable demand among customers and developers looking to capitalize on the platform’s relative newness.

A Spate of Agreements and Partnerships

So far, the Cardano Foundation’s marketing and promotions campaign has been at full force. At the Foundation’s 2021 Cardano Summit, it has announced several vital partnerships towards ensuring that the blockchain looks more appealing.

One of the most effective campaigns is the partnership between Cardano and Chainlink – the top decentralized oracle. Chainlink’s job is to provide off-chain data to blockchain platforms in real-time, offering all the information they need to support different projects and applications.

1 2 3
View single page >> |

Disclaimer: None of the information you read on Crypto Adventure should be taken as investment advice. Our writers’ and journalists’ opinions are solely their own. Read our full ...

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.