Sometimes it’s hard to create a cryptocurrency that will be popular and remain unmodified. That’s why we have hardforks.
Hardfork basically means that some major changes were applied to a blockchain. Hardforks can only be executed if they have significant community support.
Typical reasons for hardfork:
- Fixing important security issues
- Adding new features
- Reversing transactions
So, in most cases, security upgrades and new features are the factors behind hardforks. Read more in our guide.
Now let’s look at Cardano. Their fresh hardfork is called Alonzo. It happened according to the roadmap on Sept, 12.
Here is what it brings to ADA, two main steps forward being the world’s most applicable cryptocurrency in the next few years — smart contracts support (native and for finance) and dApps support.
Well, what have we got here? PoS, staking, smart contracts, dApps, top-3 by the market capitalization… Sounds like Ethereum, huh? That’s right, and this is Cardano’s main competitor. With the upgrades that Alonzo hardfork brings, ETH might start losing its positions. That overall means the whole industry will become more competitive, crypto adoption will continue to grow, and cryptocurrency users will benefit even more in the long run.
Guarda Wallet fully supports Alonzo both on the Web and Desktop. The mobile release is about to be published. Use Guarda Wallet to make any Cardano transactions, store, and stake.
Here’s what you get when you stake ADA with Guarda Wallet:
- Start from just 10 ADA
- Manually claim rewards
- 5% annual yield
- You do not pay validator costs
- Your coins are not locked
- 100% uptime
- You get a reward every five days
Read more about ADA in our fresh review.