Subscribe to Our Newsletter
Thursday May 26, 2022
Bitcoin (BTC) $29,778.00   Ether (ETH) $1,959.87
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Investment Management
    • M&A
    • Mining
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
No Result
View All Result
Swap USDT (TRC20) Instantly
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
Changelly
CryptoNinjas
Home Networks & Protocols

Cardano blockchain upgrade sees over 100 smart contracts in the first 24 hours 

The new smart contract capabilities of Cardano enables developers to build and deploy their own applications on the platform...

Published by CryptoNinjas.net
09/14/2021
Cardano blockchain upgrade sees over 100 smart contracts in the first 24 hours 

Cardano, the third-biggest blockchain by market cap, on Sunday, September 12th, successfully executed the Alonzo hard fork, an upgrade to give the blockchain ‘smart contract’ functionality, which gives developers the ability to create decentralized apps with advanced use-cases.

Within 24 hours, the platform saw over 100 smart contracts run on the network, with its first decentralized application also already deployed.

By building decentralized apps, or ‘DApps’ on the blockchain, developers minimize the security compromises of traditional apps, which live on a central server, instead of utilizing the security of a global network of thousands of networked computers.

However, developing apps on the blockchain has, until now, been inaccessible for many developers, who are faced with high and unpredictable costs, as well as energy inefficiencies which see the largest blockchain platforms using the energy equivalent of entire countries.

As a result, implementing blockchain for smaller enterprises has often not been a truly viable option without having to compromise on sustainability goals or business costs.

Cardano Solution + IOHK

The Cardano blockchain uses a novel mechanism for verifying transactions, the network is 4 million times more efficient than Bitcoin, using the energy equal to a family home, rather than a country as Bitcoin does. Its ability to accurately predict transaction costs also provides price predictability and stability, which allows developers to build apps without risking lost transactions or high costs.

2021 has been a pivotal year for IOHK, the engineering company behind Cardano, which in April announced the world’s largest blockchain deployment, to provide five million teachers and students in Ethiopia with instantly verifiable IDs, facilitating better lesson planning, monitoring of student progress, and empowering the government to be adequately sighted of future workforce planning needs and gaps. For students, it also allows them to share verifiable qualification details with employers.

IOHK also founded a unique solution that allows the creation of NFTs on Cardano without the need for smart contracts, which means that Cardano has seen 780,436 NFTs created to date. In addition, the company has created Catalyst, the world’s largest blockchain innovation fund.

Catalyst is a potential disruptor to the venture capital model. It incentivizes and funds innovative projects to support the Cardano blockchain and ecosystem. Catalyst has already funded 90 projects to the tune of $5 million, with a treasury worth over $1.5B and an engaged community of over 35,000.

This upgrade comes after six years of research and development, including the production of nearly 100 peer-reviewed scientific papers, in order to create a blockchain that can live up to the promises of the technology and address the problems involving cost, environmental stability, security, and scalability.

“This upgrade is the culmination of six years of hard work with some of the brightest minds in blockchain and beyond. The focus is now on improving the platform further and ensuring that Cardano is adopted by corporations and governments. With this launch, commercialization is as much in the hands of the community as it is the system architects, and they are already delivering – in less than 24 hours, over 100 smart contracts have already been run.”
– Charles Hoskinson, CEO of IOHK

Upcoming Cardano Summit

  • IOHK will be discussing planned upgrades and improvements to smart contract functionality during the Cardano Summit on the 25th & 26th of September.
  • The summit will explore IOHK’s plans to ensure that Cardano fulfills its potential to act as an operating system for industries, supply chains, and governments, as well as discussing the scientific research underpinning the platform. It will also include new project and partnership announcements.
  • Speakers will include Sheila Warren, Global Executive, World Economic Forum, Gillian Tett, Editor-at-Large, Financial Times, Misan Harriman, Chair of the Southbank Centre; discussing everything from CBDCs and interoperability to NFTs and climate change.

To sign up for the event, click here.

205
SHARES
FacebookTwitterLinkedinRedditE-MailTelegram

Related News

Wave Financial launches $100M ADA Yield Fund to support Cardano’s DeFi growth

04/01/2022
Wave Financial launches $100M ADA Yield Fund to support Cardano's DeFi growth

Wave Financial LLC (Wave), an SEC-regulated digital asset investment management company, has announced the launch of the Wave ADA Yield Fund. The fund is designed to provide liquidity with millions in line to support...

Read more

EMURGO to develop new dApp tool stack for Cardano blockchain

01/17/2022
EMURGO to develop new dApp tool stack for Cardano blockchain

EMURGO, the official commercial arm of Cardano and the Cardano Foundation, overseer of the Cardano blockchain, announced the launch of a project that will see the two organizations combine efforts and resources to foster...

Read more

EMURGO launches new $100M investment vehicle to bolster Cardano ecosystem

09/27/2021
EMURGO launches new investments of $100M into Cardano ecosystem

EMURGO, the official commercial arm of the Cardano blockchain, today announced the launch of a new Cardano ecosystem investment vehicle to invest in early startup and growth-stage companies focused on building socially impactful solutions...

Read more

IOHK to integrate Cardano into decentralized crypto trading platform Orion

06/23/2021
IOHK to integrate Cardano into decentralized crypto trading platform Orion

Orion, a DeFi ecosystem and crypto trading platform along with blockchain engineering company IOHK, today announced a partnership to integrate the Cardano blockchain into Orion's trading terminal. The Orion terminal allows users access to...

Read more
Load More

Discussion about this post

Where to Exchange

Crypto services suite in Spanish Visit
European bitcoin exchange Visit
Swap & buy 150+ cryptocurrencies Visit
America's first regulated bitcoin exchange Visit
  • Trending
  • Latest
Kiln completes $5 million funding round to grow blockchain staking platform

Kiln completes $5 million funding round to grow blockchain staking platform

05/19/2022
Crypto transaction monitoring platform Merkle Science adds support for 1,200+ ERC-20 tokens

Crypto transaction monitoring platform Merkle Science adds support for 1200+ ERC20 tokens

05/20/2022
Legion Network launches app with crypto wallet, NFTs, play2earn, watch2earn, launchpads, rewards and more

Legion Network launches app with crypto wallet, NFTs, play2earn, watch2earn, launchpads, rewards and more

05/24/2022
TRON network integrated with blockchain infrastructure provider Ankr

TRON network integrated with blockchain infrastructure provider Ankr

05/23/2022
Fairmint launches new tokenized equity platform for startups

Fairmint launches new tokenized equity platform for startups

05/25/2022
Japan exchange Coincheck lists SAND, the crypto asset of The Sandbox metaverse

Japan exchange Coincheck lists SAND, the crypto asset of The Sandbox metaverse

05/24/2022
Japan crypto exchange bitbank signs MOU to form institutional blockchain investment company

Japan crypto exchange bitbank signs MOU to form institutional blockchain investment company

05/24/2022
Binance obtains crypto license to operate in France

Binance obtains crypto license to operate in France

05/24/2022
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2022 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact
No Result
View All Result

© 2016 - 2022 CryptoNinjas Disclosures | Privacy Policy

Go to mobile version