IOHK announced the success of the Alonzo testnet hard fork to Alonzo White node.
Alonzo White will onboard stake pool operators, pioneers, and 500 members of the Cardano community.
The driving force behind the decentralized and smart contract platform Cardano, Input Output Hong Kong (IOHK), has announced a successful hard fork of the Alonzo testnet. The Alonzo testnet has now been forked into the new Alonzo White node. IOHK revealed the success of the Alonzo testnet hard fork on the 14th of July.
According to a tweet by the research and development company behind Cardano, the hard fork was completed around 19:44 UTC. In addition, the research company added that the new network is already making blocks.
The IOHK team has been working on a successful hard fork of the testnet as the network moves nearer to smart contracts. The team continued:
We’ll monitor the new network closely over the next 24 hours while continuing to do further QA work on the node tonight. We’ll then review any feedback/results tomorrow and start addressing any required fixes. We expect a number of updates as we add features to Alonzo White.
When IOHK announced the Alonzo rollout earlier, the team said the unveiling would consist of a series of color-coded tenets. IOHK has previously launched the first alpha testnet, Alonzo Blue, which went live on the 27th of May. Alonzo Blue was initially supported by a small group of SPOs, partners, and Plutus Pioneers.
IOHK: Alonzo White goes live after a successful hard fork
The second phase, Alonzo White, will allow stake pool operators and pioneers to participate in the stage. In addition, the Alonzo White phase will onboard about 500 members of the Cardano community.
Blockchain technology company EMURGO referred to the hard fork, saying:
With the Alonzo hard fork coming up on the road towards the Goguen era, developers will be able to start trying out decentralized applications in a testnet and ready Cardano’s network for the mainnet launch of smart contracts.
The testnet will be public after the Alonzo White rolls into Alonzo Purple, which is the next phase. Expectedly, Alonzo Purple will launch in August and will feature the first testnet that will be fully public and will allow the participation of all pioneers.
The success of the Alonzo project will result in the development of new DApps, including decentralized finance applications. As such, Cardano will be able to compete with other decentralized finance platforms, including Binance, Ethereum, Polkadot, and other notable platforms.
Cardano founder Charles Hoskinson is optimistic that the successful launch of the Alonzo Testnet will fuel an increase in the value of ADA. At the time of writing, ADA is trading at $1.23. The price of the Cardano native token has declined by around 3 percent in the last 24 hours. Currently ranked 5th largest crypto by market cap, the token stands at a market valuation of roughly $40billion. In addition, ADA has jumped 4.69 percent in its 24-hours trading volume.
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