Posted 10 months ago | by Catoshi Nakamoto
Cardano’s Alonzo testnet has officially entered into the “Purple” phase, according to an announcement made by Cardano research and development company IOHK.
Alonzo Purple marks a major step in the journey to launch smart contracts for Cardano and its founder Charles Hoskinson. The Alonzo Purple testnet is now fully public, which means that all members of the Plutus pioneer program, all stake pool operators, and exchanges can participate in testing.
Although, everyone is welcome to participate not just those mentioned to try out smart contracts in a real-world environment according to IOHK. The release of Alonzo Purple means that developers will be able to test their code so that projects are ready for release when smart contracts become available on the Cardano Mainnet.
In comparison, Alonzo Blue and Alonzo White were limited to only 50 users and 500 users.
The final steps before the release on Cardano’s Mainnet allowing the transition from Mary to the Alonzo, are Alonzo Red and Black to ensure that everything is working as expected without any bugs.
As soon as Alonzo Black is confirmed, Cardano can shift to Alonzo on its mainnet which will enable smart contracts and dApps that interact with ADA and other ADA-based tokens.
Alonzo’s purpose is to make it possible to write smart contracts on the blockchain in the Plutus programming language. According to IOHK in a tweet, the mainnet is scheduled for the end of August/early September. If you were wondering Alonzo is named after U.S. mathematician Alonzo Church, who made important contributions to mathematical logic and theoretical computer science.
Cardano is being built in five stages, each named after famous poets or computer scientists. Cardano’s current Goguen phase is named after Joeseph Goguen, an American professor of computer science from the University of California and the University of Oxford.
Last month, Cardano was added to Grayscale Investments’ large-cap cryptocurrency fund and is now the third-largest asset in its investment portfolio after Bitcoin and Ether, Bitboy Crypto reported.
Edward McGee, Vice President of Finance at Grayscale, said the following on the decision to add ADA to the fund:
“We are excited to welcome Cardano to our Digital Large Cap Fund’s portfolio as we work to ensure that our diversified Fund can safely hold assets that collectively comprise 70% of the entire digital asset market. Digital currencies represent a unique opportunity for investors to diversify their portfolios, and at Grayscale, we are proud to provide our investors with access to leading digital currencies through regulated, familiar product offerings.”
There is now approximately 43.3 Billion ADA worth or over $33.72b billion staked in Cardano’s network, according to Cardano on-chain analytics site CardanoPoolTool. That amount now represents around 71% of the total circulating supply and institutional investors are paying attention.
You can learn how to stake your own ADA with Bitboy Crypto’s BPOOL node and support the ADA network by following this guide here.
Cardano is currently trading at [FIAT: $1.46] DOWN -1.0% in the last 24 hours according to Coingecko at the time of this report.