Cardano update was successful

The Cardano network was updated on schedule and successfully in the early hours of today. It remains to be seen what further impact this upgrade will have on the third-currency market ecosystem.

to the Report Crypto Potito, after years of researching and publishing revised articles on structure, potential, ideas, goals and other networking issues, Cardano now supports smart contracts and can increase the strength of its ecosystem.

Cardano has gone through a major hardfork and is now up to date on the mainstream Alonzo update. This means that Cardano can now support smart contracts, which allows different teams and projects to design and implement protocols directly on the Cardano network.

Cardano’s core network now has features that were launched in the test network in early September.

One of the most important things you need to know about Cardano smart contracts is the issue of Plutus. Plutus is a software framework that has added the ability to support smart contracts to the Cardano blockchain. The Plutus kernel is used to define the parameters of the advanced version of the unused output model of transactions, or “UTXO”. UTXO is an accounting model for defining value and managing transactions in a digital currency network. According to the Cardano development team, this model has unparalleled advantages over other accounting models.

The Pluto software framework also provides access to applications and services active on the Cardano network, and will likely fully support the ability to exchange information with Internet browsers.

Alonzo’s update was not so hassle-free. Recently, it was raised by some experts that the smart contract support structure in the Cardano network is facing the problem of “synchronization”.

The synchronization problem usually occurs in such a way that other users can no longer interact with a program or protocol at the same time. However, Charles Hoskinson, as well as Input Output, the Cardano developer, have been particularly sensitive in trying to fully explain the network’s smart contract model and give reasons why it is not important.

Input Output also released a completely new article a few days ago that described the advanced version of the unspent output model approach to executing smart contracts, issues related to increased security, non-receipt of fees for failed transactions, and the ability to accurately predict transaction costs.

In any case, the hardfork that was done today has ushered in a new era for Cardano, and it remains to be seen how this update will affect the third-currency market ecosystem.