Cardano (ADA) has overtaken Binance Coin and Tether to become the third largest cryptocurrency in the world by market cap. With a price increase of 13%, Cardano only has to tolerate Bitcoin and Ethereum.
Course Cardano
At the time of writing, ADA is trading at $2.03, or 1.73 in euros.
According to data from our Cardan koerspage ADA is up 44.1% in value in the past week, making it the biggest gainer among all the major cryptocurrencies on the market. The latest upward move pushed the token’s market cap to $55.61 billion, or 3.23% of the total value of all cryptocurrencies. As a result, ADA has left two big names behind, namely Tether and Binance Coin.
The trading volume of the past 24 hours is 5.14 billion euros. In May of this year, ADA was briefly worth 2 euros, which is the highest point of all time. This means that ADA no longer needs to have a big pump to break through this.
Smart contracts are coming
Created by Charles Hoskinson, one of the original co-founders of Ethereum, Cardano is a proof-of-stake (PoS) blockchain platform that allows developers to build decentralized apps once the smart contract functionality is launched. Smart contracts are pieces of code that automatically execute commands and instructions.
Cardano is currently preparing for the Alonzo-hardfork, which will deploy the smart contract functionality on the mainnet. The community expects Hoskinson to announce today when smart contracts will be available.
By offering smart contracts, Cardano can also participate in DeFi and NFTs. This allows users to leverage the power of smart contracts to borrow, provide liquidity and trade without intermediaries.
**update** on September 12, smart contracts will be rolled out
It’s happening.
We’re targeting 12 September 2021 for the ‘Alonzo’ upgrade, bringing smart contracts to Cardano via a hard fork combinator (HFC) event.
Find out more about the journey to a new era of smart contracts, DeFi and more for #Cardano $ADAhttps://t.co/59czSxrxFO
— Input Output (@InputOutputHK) August 13, 2021
Final phase Alonzo
Introducing smart contracts is part of the Alonzo era on Cardano’s roadmap. Alonzo is again subdivided into different colors (chapters). Recently, Purple has entered and that is the third and final phase of Alonzo.
The previous colors are Blue and White. Alonzo White, which launched in mid-July, also already supported smart contracts, but on a limited scale. This was a closed group of 500 users. White also made NFTs possible on Cardano.
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