- Cardano announces successful projects from Fund5 of Project Catalyst, set to initiate Fund6 to support new decentralized applications.
- Input Output Hong Kong launches public testnet for smart contract integration, reveals that the Alonzo Purple upgrade is imminent.
- Charles Hoskinson predicts tons of Dpp development, Reddit, and forums filled with projects after smart contract launch.
Cardano inches closer to smart contract deployment and gears up for a bullrun ahead of the Alonzo hardfork.The altcoin’s price may briefly retrace before rallying further.
ADA set to rally ahead of Alonzo hardfork and smart contract launch
Cardano’s Project Catalyst is a series of experiments that brings on-chain governance to the Cardano blockchain and allows participants to deploy funding to proposals that tackle the most challenges. The fifth series of funds were deployed to successful projects and support was initiated for the next series, Fund6.
It is expected that projects that are part of Project Catalyst will go live on the Cardano network once smart contract functionality is live.
The update comes within a week of Input Output Hong Kong (IOHK), a public blockchain that hosts Cardano, which launched a public testnet for smart contract integration. This announcement marks the first time a public testnet hosts exchanges, developers, and graduates of ADA’s programs ahead of the Alonzo hardfork.
Once the team has been onboarded, the Alonzo Purple upgrade is imminent. Alonzo Purple is the third and final stage of the three-stage upgrade to the Cardano network.
IOHK recently revealed the news in a series of tweets
ALONZO UPDATE: We’re delighted to announce that we have now successfully spun up #AlonzoPurple and have today begun the new user onboarding process
1/12$ADA #Cardano @CardanoStiftung @Cardano @emurgo_io @IOHK_Charles— Input Output (@InputOutputHK) August 6, 2021
