The company behind the third highest market cap cryptocurrency Cardano reported that it has almost reached its goal for Alonzo-enabled stake pools. The number of pools for the Alonzo upgrade has almost doubled. But it has yet to reach the expected 70% number.
64% of pools upgraded by Sept. 6
64% of Cardano stake pools are now ready for the Alonzo upgrade. That’s slightly less than the 70% target. They should be upgraded to 1.29.0 Alonzo nodes by today, September 6. The hard fork is scheduled for September 12. Cardano developers expect four-fifths of pools to be ready by then. PoolTool has provided data on the updated pools.
Charles Hoskinson speaks via video stream about “noise”
IOG CEO and Cardano founder Charles Hoskinson released a video stream in which he addressed the recent smear campaign against Cardano. It was initiated by Anthony Sassano, a well-known member of the Ethereum community and co-founder of Ethhub.io. Sassano posted screenshots from Reddit on his Twitter page. From these, it appears that Cardano’s minswap exchange has some major issues.
It turns out that the network’s EUTXO could only process one transaction per block. Thus, minswaps would be useless. This led many to believe that the smart contracts tested on Cardano and the blockchain itself would not work. IOG’s CEO called it “noise and FUD.” His team has since clarified the issue.
Things to know about Cardano’s Alonzo update.
The update will allow the network to take full advantage of its capabilities. The hard fork implements smart contract functionality. This is something everyone has been looking forward to for quite some time. Smart contracts are elements of code that are automatically executed when certain condition are met.
Third quarter release
The Alonzo update will be fully rolled out in the third quarter of 2021. It marks the end of the Shelley phase and ushers in the Goguen era. Developers across the ecosystem have been adhering to a defined roadmap with specific milestones in the form of eras. People have been hard at work on test networks, though no date was set for the end of the update.