Goguen phase Smart Contracts represent a big step forward - altcoins

The digital currency network Cardano is two days from the upcoming Hard Fork on September 12th and the community expects functional smart contracts. These can be used for decentralized finances (defi), non -fungible tokens (NFTS) and other types of decentralized applications (DAPPS). Cardano has managed to conquer the third largest crypto market capitalization under 10,000+ crypto-assets, but Cardano has lost more than 16% of value in the past seven days.

Cardano awaits an upgrade in 2 days

With more than $ 400 billion under the hood, the Ethereum ( ETH ) is far from the biggest Smart Contract platform with regard to the Fiat rating. Ethereum has held this position for several years, but a number of other crypto-asset networks with intelligent contracts are moving towards eth ’s. Also eth belong to today's top Smart-contract-markets according to market evaluation Kardano (ada) , Solana (Sol), Polkadot (dot), terra (luna), avast (Avax) and more.

The fees of Ethereum and its difficulty in scaling have meant that funds to other smart contract competitors are relocated with lower fees and faster transaction times. cardano has promised to be an Ethereum competitor, and the next upgrade is intended to offer developers functional smart contract functions. The upgrade on September 12 is called "Alonzo" and Smart Contract capabilities for earlier Alonzo phases, but only for technical participants.

goguen phase will see the "integration of smart contracts", goguen adds the "ability to create decentralized applications"

If everything goes well, the community hopes that the network can be expanded to use Defi, NFTS, Tokenization and other types of dapps. Alonzo is part of Cardanos Roadmap includes the five different epochs, including Byron, Shelley, Goguen, Basho and Voltaire.

At the moment the Cardano network is located in the goguen-ära . The developers worked in parallel to Shelley on Goguen, and after Goguen has been completed, both technically experienced and non -technically experienced people can create Cardano Smart Contracts.

"With the integration of smart contracts, the Goguen era represents great progress in the performance of the Cardano network," explains the Cardano team on its website. "Where the Shelley era decentralized the core of the system, Goguen adds the possibility to create decentralized applications (DAPPS) on Cardano's solid foundation from assessed research and high-proof development."

This week Outlier Ventures for blockchain development in the first half of 2021, and that Cardano project is one of the top projects in terms of development. With regard to active developers, Ethereum 168, while Cardano 165 has 165, said Outlier's report by Robin Andre Nordnes. While kardano (ada) has lost more than 16% in the last seven days, as the statistics of the year still show ada has increased by more than 2,555 %

What do you think of the upcoming Cardano network upgrade? Let us know your opinion on this topic in the comments below.

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