Cardano's stakeholders agreed ADA's infrastructure is ready to enter its final preparations before the Alonzo upgrade. ADA also remains on track to execute the Alonzo hard-fork on September 12.
Charles Hoskinson, ADA's founder, provided these and several other updates in a four-minute YouTube video live-streamed Friday, August 27, 2021.
Hoskinson said ADA's major stakeholders convened a "Go/No-Go" meeting earlier that day to review the coin's infrastructure and decide if the September 12 Alonzo hard-fork date remains feasible.
"We went through a huge checklist of things and they kept coming up green," Hoskinson said. "I'm very proud of the team, very proud of the community."
Hoskinson said a five-day delay was expected if the Go/No-Go meeting uncovered any major issues, pushing Alonzo's hard-fork from September 12 to September 17. No major issues were uncovered however, and the team remains confident in the September 12 date.
Hoskinson said the Cardano test-net will be in the Alonzo stage by September 1.
"So the test net will be in Alonzo stage; this is not one of those specialty test nets like purple and all these other things, this is the primary test net that we use for exchanges and all the other people and normal things and that's going to go ahead and go through that process," Hoskinson said. "I believe that test net is going to roll over September 1st."
The Alonzo upgrade will bring smart contract functionality to the ADA blockchain.
The August 27 YouTube update is linked below.
Thoughts on the August 27 update
I am in no position to evaluate the technical aspects of what remains to be done before Cardano adds smart contract functionality via the Alonzo update. I do however think Hoskinson's August 27 update yields a few good observations:
- While the public won't get a taste of Alonzo's capability until September 12, large entities like exchanges will see it via the test-net rollout on September 1. I'll be watching social media and blogs closely to see if anyone in the test-net's user-base provides an unfiltered view of how Alonzo actually functions.
- ADA continues to generate positive buzz in the crypto community. Positive buzz is especially important because coin rivals Ethereum and Bitcoin continue to generate anxiety in their communities over Ethereum's recent split, and Bitcoin's ever-looming crash. Smol amateur investors and big-boi whales alike might see ADA as an attractive coin to invest in while the Big-2 work out their struggles. I certainly did -- I cashed out what little ETH and BTC I had earlier this week and yeeted it into ADA during ADA's recent pull-back to the $2.50 range.
As always, thanks for reading and good luck with your crypto moves this week.
