Cardano (ADA) completed the Alonzo update this past weekend, and with it came the introduction of smart contract functionality. The platform now has similar capabilities to those of Ethereum and its competing networks.
Skeptics doubted that smart contracts would be launched on time or even at all, but they were proven wrong. Now, with its newly integrated capabilities, the project is getting a lot of attention from different sides of the barricade.
To that end, Sidney Vollmer, Director of Brand and Communications at the Cardano Foundation, updated the community on the announced partnerships:
I don’t want to brag or anything, but…
Some of the partnerships we will announce at the #CardanoSummit will blow people’s minds. Really grateful for the opportunities we at @CardanoStiftunghave to change the world for the better and have fun together.
Don’t really want to brag or anything but..
some of the partnerships we’re announcing at the #CardanoSummit
will blow people’s minds.
Really grateful for the chances we at @CardanoStiftung
have to change the world for the better, and have fun together.
Tune in. pic.twitter.com/rkNDky49cw-
Sidney Vollmer (@SidneyVollmer) September 14, 2021
It’s worth noting that the Cardano Summit is an annual event that informs the Cardano community, investors, and others involved in the ecosystem about updates.The upcoming event may be the biggest yet.
Great Cardano partnerships after Alonzo update
There are no official statements on what Cardano’s plans are. The network is living up to its reputation of not giving out unconfirmed information or announcing news before its release date. Details about these partnerships will be revealed soon at the Cardano Summit. It will be a combination of live and virtual events that will take place September 25-26. Currently, you can already register to attend. For now, however, there is no suggestion as to who the new partners might be, nor a list of speakers for the event.
In the meantime, decentralized applications(DApps) continue to build on the web. According to cardanocrowd.com there are about 60 DApps available now. Among them are Space Budz NFTs, Nami wallet, games and more. All of them fall under different categories including crowdfunding, management, insurance and many more.
With future partnerships, the platform may even gain more favor than Ethereum. Blockchain is “better than Ethereum” in many ways. Cardano has higher scalability, technology and lower transaction fees. It also uses environmentally friendly proof-of-stake instead of proof-of-work and has double-layer, split computing and accounting features.
However, Cardano founder Charles Hoskinson, who is also a co-founder of Ethereum, stressed that there is room for coexistence in the ecosystem. Each network can have unique characteristics that set it apart from the others.
Nevertheless, Tim Harrison, chief marketing officer at Input Output Global (IOG), acknowledged the need to manage expectations in the ADA. In a blog post, he wrote that it may take some time before the ecosystem can boast of huge growth. It may even be a long time before there is significant user traction.
Cardano users can expect an expansive ecosystem of consumer-ready DApps, available immediately after the update. Expectations need to be controlled here.
Even Ethereum, as Harrison notes, took two years after launch before the first blockbuster DApp, CryptoKitties, appeared on it. Therefore, despite Vollmer’s enthusiasm, Cardano still has a long way to go.
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