2021 is an important crucial year for Cardano and its CEOs. In essence, after a period of stagnation, Cardano attracted the attentions once again. It was through the launch of the first smart contract platform called Pluto on its testnet. However, Cardano’s growth path is not free of problems.
Cardano’s growth path and challenges
Tim Harrison, IOHK Marketing Director, stated in a recent live interview on YouTube channel that, Alonzo hardfork will launch in 2021 Q3. This implementation would be in 5 phases. These phases including, blue, White, purple, red and black Alonzo. Now, transition from the first step to the second is scheduled for the next week. In order to succeed in this phase, network fundamental capabilities and ADA initial offering to the staking pools have been tested.
The implementation of this transition is easy, but lack of a full supporting mechanism from partners and pioneers, who should build their scripts can be challenging. Therefore, Cardano’s growth path will also may be challenging. This means when the partners are able to send, confirm and implement the chain, the project will become executed. Besides that, a drop rewarding mechanism must be done to test users’ capital data before the implementation of white Alonzo phase.
Remember, it is as simple as forwarding a message in response to a request or confirmation of payment from the transaction. It means that Alonzo has the capability to execute smart contracts due to the implementation of Pluto platform. After transition to white Alonzo phase, users will be able to develop advanced applications.
Can these developments change Cardano’s price action trend?