Cardano is taking these steps to ensure exchanges are ‘Alonzo-ready’


It is known that with the highly anticipated upgrade of Alonzo, Cardano will integrate smart contract functions into the network. There is still a long way to go before the mainnet launches, but a recent development has sparked a lot of enthusiasm. According to the latest updates shared by IOHK, many exchanges are already preparing for the much anticipated hard fork event.

A Twitter thread recently published by IOHK revealed that six exchanges are already actively involved with the Cardano Foundation for the integration of smart contracts. The company also expects these numbers to continue to rise as the week progresses as the mainnet launch approaches. This is because the network wants all exchanges to be Alonzo ready before the upgrade is deployed.

IOHK’s post also added that there have been over 250 participants on board since the Alonzo Purple network launched earlier this month.

The development team also had good news to report about the functionality of the smart contract. Plutus, Cardano’s Haskell-based smart contract programming language, has also released its mainnet candidate for the Node team. According to the update, they are “now working hard to incorporate this into their own final release candidates for Node.”

Once approved by both the Node and Q&A teams, the candidate will be handed over to the components team for final upgrades to be implemented. The post added that with everything going according to plan, Alonzo’s hard fork launch on Testnet was “still on the way to September 1st”.

It has already been announced that September 12th is the expected date for Alonzo’s Hard Fork Combinator (HFC) event. Once smart contracts are integrated, the network expects hordes of dApps to be built on the network, along with hosting oracles, stablecoins, DEXs and NFT marketplaces on the Plutus platform.