By Tobi Loba
Ran Neuner, CNBC’s Crypto Trader host and founder of Crypto Banter/Banter Capital, has recently showcased his hope in the work in progress smart contracts platform, Cardano (ADA).
Neuner shared his thoughts moments ago via his official Twitter handle, stating that smart contracts will be launched on the Cardano blockchain before the end of the current bull cycle.
The crypto Public Figure said this amid the current unfavorable situation in the cryptocurrency market, believing that Cardano’s team of developers will deliver as promised, following the roll out of the first Alonzo testnet.
Ran Neuner tweeted, “The bull market can’t end before Cardano launches smart contracts!!!”
The bull market can’t end before Cardano launches smart contracts!!!
— Ran Neuner (Non fungible) (@cryptomanran) May 30, 2021
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Cardano (ADA) Counts Down to Smart Contract Implementation
The launch of the first Alonzo testnet by the team indicates that the much-anticipated implementation of smart contracts functionality on the Cardano blockchain is around the corner. This development will enable Cardano to perfectly rival the largest smart contracts platform, Ethereum.
Today, we are delighted to report we have successfully spun up the first testnet in our #Alonzo rollout. #AlonzoBlue is our early alpha network, providing core Alonzo-node networking capability. 1/2https://t.co/z8shaZeIhq pic.twitter.com/Eg2t9PdM8x
— Input Output (@InputOutputHK) May 27, 2021
Alonzo, named after Alonzo Church, the mathematician and theoretical computer scientist, is the first part of a series of expected upgrades to bring full smart contract functionality to the Cardano blockchain in a few months’ time.
Read Also: Nft-maker. io, the Easiest Way to Mint Non-Fungible Token (NFT) on Cardano, Launched
According to Input Output Global (IOG), the firm behind the development of Cardano (ADA), the most critical engineering path, integration path, coordination path, and community path are for the next 90 days.
Why Cardano (ADA) Needs Smart Contracts
Smart contracts are an important feature of the growth and development of the Cardano blockchain. They will enable the platform to host decentralized finance (DeFi) applications for the first time. They are also needed to compete with other DeFi ecosystems, such as its arch-rival, Ethereum blockchain.
Currently, Ethereum is the leader in the DeFi space by a huge margin, but its issues with low transaction speed and high gas fees have been hampering its network from the onset, especially when applications and projects built on it started increasing.
However, Ethereum is also in the process of launching ETH 2.0, but its current issues give rival projects, such as Cardano, a huge means to thrive.
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