Cryptocurrency and Blockchain Technology has always been volatile yet ever evolving. Since its inception Cardano has proven to be a strong contender for a positive future, its founder Charles hoskinson who is also a co-founder of ethereum has steadily been developing cardano and its ecosystem, into something constantly better than it used to be. He has been stead fast in his development and in his confidence in Cardano’s Ada.
Cardona’s last update with its algorithm was the MARY update earlier in 2021 which was an improvement supported by the trading platform Binance and the latest one that was caught on the radar update which was recently confirmed on the 13th of August.
•We're going to be looking at what Binance has said in support of cardano updates are and what influence Binance by now has in the world of crypto.
•We're also going to be looking into the much anticipated Alonzo updates that puts Cardano on a bright path for the success of its ada coin, thank you for clicking on my article.
Binance is one of the largest coin exchange platforms in the world. Over the years it's made itself known as a highly reputable brand with a wide user base running with the promise of delivering high standards of safety security and reliability.
Binance is known for its multi tiered framework that always allows its users high processing throughputs, with the algorithm being able to handle into $1.4million orders per second. With Binance being one of the biggest exchange platforms it's no doubt that having Cardano on the platform allows it to reach more users every day.
Since the launch of cardano in 2017, we've seen this crypto assets steadily climbed the ranks keeping within the top ten cryptocurrencies. Binance platform is very comprehensive covering the trade of over 500 coins, almost all the coins on the market which makes it incredibly user friendly and universal to use it is worth mentioning that finance has its own native coin BNB, which has been steadily holding in place at the top ten cryptocurrencies as of today.
The amazing thing about binance is that while they also have their own coin,they don't waver in support of coins that they see potential in, this instance strong and confident supporting Cardano and it's Mary updates that were set for completion in March of 2021 . With Binance itself being a lead player in the crypto world Its support for cardano is sign for Ada’s positive future. These factors make it more assuring for investors trading on the binance platform and for those who keep Cardano’s Ada within that radars.
Earlier I mentioned that the long awaited update for cardano, following the Mary updates was recently confirmed. The Alonzo hardfork is something that investors have been particularly interested in. It is the cardano ecosystem integrates its smart contract functionality.
Why is the Alonzo updates important or why are investors anticipating its release, why are some speculating that Cardano will hit $25.
I mentioned earlier that the Mary upgrade was the second of three major Cardano updates, the final update succeeding this is the Alonzo upgrade which creates a framework and provides additional tools to facilitating smart contract functionality using Plutusw , using plutus for the development of smart contract paves the way for better sustainability and security for future decentralized applications. Cardano’s Shelly era was implemented last year when we saw coin token locking abilities launched with the Allegra hard fork in December 2020.
Following this we Cardano take its next big step with this successful very hard fork in March 2021, which took the Cardano Ledger from a single asset blockchain to a multi asset one. These moves done by cardano were instrumental in bringing the crypto asset ecosystem closer to the Google era.
Right now Cardano users are able to utilize that custom tokens with the freedom of creating and transferring them however they wish. This has been a game changer for cardano, as it can handle multiple fungible and non fungible tokens, it can also now create multi asset networks and its own thanks to the late Mary updates.
One of the most interesting things about Cardano is how the hard forks and entire development road map have been completely designed from start to finish. Investors have been watching Cardano unfold and unveil its milestone updates over the past few years. And are now eagerly watching the long awaited and up coming Alonzo update, which introduces the smart contract functionality that is a part of the Google era.
We can safely argue that the Alonzo upgrade will also take this crypto asset a few steps forward and its development and growth . Every single day is a step closer to Cardano’s Alonso hard fork, which means that cardano is getting closer to its much anticipated Google era.
Soon developers will have the ability to test out decentralized applications within a testnet.
Smart contract functionality is quite fundamental in the development and growth of Cardano ,this is because once these are implemented within the system projects and developers will then be able to utilize blockchain levels they haven't been able to before.
The upgrades will then provide more services to users ,which means that everyone is likely to benefit from the wider range of possibilities and opportunities.
Cardano’s smart contracts are designed to increase convenience to users , developers , companies and businesses all while maintaining a high standard of security and quality. Cardano’s Alonso upgrade will make available a whole variety of solutions and applications from Defi apps, NFT services, crowdfunding , decentralized exchanges ,blockchain based remittances and more .
