Cryptocoin. com, last weekend Cardano (ADA) completed the Alonzo upgrade and with it enabled smart contract functionality. The platform now has capabilities similar to those of Ethereum and its rival networks. According to crypto analyst Steve Muchoki, Cynics doubted that smart contracts would launch, or even launch, on time, but only if they were proven wrong. Now, with its newly integrated capabilities, a lot of attention is paid to Cardano (ADA) and what developments have emerged over time.
Details of partnerships will be announced at Cardano Summit
Sidney Vollmer, Head of Brand and Communications at the Cardano Foundation, tweeted to the community:
I really don’t want to brag or anything but. Some of the partnerships we announced on CardanoSummit will blow people’s minds. We are truly grateful for the chance to make the world better and have fun together at CardanoStiftung. Come in.
In particular, the Cardano Summit is an annual event that updates the ADA community, investors, and others involved in the ecosystem. After the latest update, the upcoming event could be the biggest ever. There is no official statement as to what Cardano’s plans actually are. The network maintains its reputation for not making unfounded claims or disclosing news prior to its publication date. Details of these partnerships will be announced soon at the Cardano Summit. The latter will be a mix of both live and virtual events from September 25-26, with registrations currently ongoing. At this time, there are no suggestions as to who the new partners might be or the list of speakers for the event.
Meanwhile, decentralized applications (DApps) continue to be created on the network. Already, cardanocrowd. According to com, there are about 60 DApps available. These include Space Budz NFTs, Nami wallet, games among others. Others belong to a number of categories such as kidollarse funding, governance, insurance, social and identity.
Steve Muchoki: The platform can get even more likes than Ethereum
According to analyst Steve Muchoki, with future “mind-blowing” partnerships, the platform could garner even more acclaim than Ethereum. Analyst finds Blockchain better than Ethereum in many ways and Cardano has higher scalability, peer-reviewed technology and lower transaction fees, it also uses eco-friendly Proof of Stake (PoS) instead of Proof of Work (PoW) and doubles It states that it has layered, partitioned calculation and accounting features.
Cardano founder Charles Hoskinson, who is also an Ethereum co-founder, emphasizes that there is coexistence in the ecosystem and argues that each network can have unique features that distinguish it from the other.
Realistic expectations for ADA
That said, Steve Muchoki says Tim Harrison, Director of Marketing for Input Output Global (IOG), feels it is necessary to manage expectations at Cardano (ADA). Tim Harrison wrote in a blog post that it may take some time for the ecosystem to boast of huge improvements and even before it gains significant user traction. In his article, Tim Harrison comments:
Cardano viewers may expect a complex ecosystem of consumer-ready DApps that are ready to use right after the upgrade. Expectations need to be managed here.
As Tim Harrison points out, even Ethereum achieved its first success with DApp-CryptoKitties two years after its launch. That’s why, according to Steve Muchoki, Cardano still has a long way to go, despite Vollmer’s enthusiasm.