Smart Contracts coming with Alonzo

Cardano's developer, IOHK, announced that support for smart contracts will be added to the Cardano network in the Alonzo update. With this update, it will allow the creation of smart contracts and decentralized applications (DApps) for decentralized finance (DeFi).

On March 1, there was an update on Cardano called Mary. With this update, local cryptocurrencies can now be created on Cardano. With the Mary update, Cardano grew stronger. After the Mary update, another of the most important updates this year will be the Alonzo update. It was stated that the Alonzo update will take place approximately 4 months later in August.

As of the second week of this month, tests will be launched on Cardano that creating and deploying non-fungible tokens (NFTs), marketplaces or DApps running smart contracts. IOHK stated that in May and June, it will allow users to test the new product. This will give cryptocurrency exchanges and wallets preparation time for updates.

This update will create a great opportunity for developers and businesses. With the Alanzo update, Cardano (ADA) will get more powerful. After the update that enabled the creation of local tokens in Cardano, the most curious updates were about DeFi, DApps and Smart contracts. With this update, this phase will be completed.

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