Cardano (ADA) has maintained part of its profits from the pre-crash weeks. At the time of writing, the fifth cryptocurrency by market cap trades at $1,50 with moderate losses in the weekly chart.
ADA with moderate gains in the daily chart. Source: ADAUSDT Tradingview
ADA moves with the general market sentiment, undecided, and with no clear direction. However, the bullish case for Cardano revolts around the deployment of its smart contract capabilities, and IOG, its developer, has been making important progress.
At the beginning of June, this company launched the first testnet for the platform’s Alonzo era, AlonzoBlue. This phase in Cardano’s development has the objective of stress test their smart contract platform, Plutus. IOG’s media department announced:
The first simple Plutus smart contract has this week been successfully run on the AlonzoBlue Cardano testnet.
Tim Harrison, IOG’s Marketing Director, the company’s Head of Delivery, Nigel Hemsley, and Delivery Lead, Dimitris Poulopoulos, deep dive into this smart contract first run. Hemsley said that stake pool operators (SPOs) have been successfully running nodes, these community members have been a key component to “sort out a bunch of issues”.
Pioneers and IOG’s partners have also been running their own nodes and have begun with their first exercises. As NewsBTC reported two weeks ago, Alonzo’s testnet will have several colors coded phases (Blue, White, Purple, and two small stages called Red and Black) before its implementation.
Each will have a specific set of objectives and exercises to be completed by IOG and its participant, from the private to the public phase. AlonzoBlue will check basic network functionalities, the initial distribution of ADA to the SPOs with simple Plutus scripts, and others. Poulopoulos added:
We can actually talk to the Alonzo node. A Pioneer could create a very simple smart contract and pass it to the ledger. So, they can have their first smart contract written against our network.
Where Is Cardano Going Next?
The simple smart contracts that can be deployed on Cardano’s AlonzoBlue can have different applications, Poulopoulos said. IOG’s Delivery Lead said that although Alonzo is yet to run a “fancier” smart contract, this represents a major milestone for the platform.
At the moment, the stability of AlonzoBlue is the priority. Then, IOG will move to AlonzoWhite and SPOs, pioneers, and partners to “spin un” a new node. In this phase, IOG engineers will integrate bigger components for Plutus, Hemsley said.
IOG has received a lot of feedback from the community via GitHub and Discord, Poulopoulos added. To wrap up with AlonzoBlue, the developers expect to build confidence in the network and its components. IOG’s Head of Delivery said:
Once they (pioneers and partners) can successfully prove they can submit, validate, and execute we will be ready for (Alonzo) White.