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<\/figure>\n<\/div>\nIn light of Ethereum\u2019s scalability issues, alternatives continue to jostle to attract projects. These include Solana, Tezos, and Near. On the other hand, Cardano\u2019s efforts to build a dApp ecosystem are more deliberative.<\/p>\n
Cardano was founded in 2015, and has grown tentatively since then. Cardano\u2019s strategy involves peer-review, whereby its parent company, IOHK (Input Output), works with several universities on research and development. <\/p>\n
This approach is different from the normal path of software development, whereby new features are introduced and adopted after members agree upon them. <\/p>\n
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SEE ALSO<\/strong>:\u00a0Inside Cardano\u2019s Plans for Africa<\/a><\/p>\n ___________________________________________________________________<\/p>\n As such, the growth of the Cardano ecosystem has happened in phases. <\/p>\n As part of the Goguen<\/strong><\/em> phase, the blockchain is set to undergo a hard fork, that is being referred to as the Alonzo hard fork<\/strong>.<\/em> This is named after a mathematician called Alonzo Church, who was one of the important people in the history of computer science. <\/p>\n The key thing about the Alonzo hard fork is that it will introduce<\/a> smart contracts. This will let people develop dApps on Cardano, meaning the trendiest blockchain use-cases such as DeFi functionality and NFT services, will become possible on Cardano. <\/p>\n Cardano is however focused on even more areas:<\/p>\n \u201cMany possible solutions and applications include blockchain-based remittances, more cost-efficient supply chain management, IoT monitoring, decentralized exchanges, and many more that have yet to be created by entrepreneurs.\u201d<\/em><\/p>\n \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u2013 Cardano<\/em><\/p>\n The Alonzo hard fork also means Cardano will enter the decentralized finance landscape, that is currently dominated by the likes of Ethereum, Binance, Solana, and Polkadot. <\/p>\n In anticipation of an influx of projects from the other ecosystems, Cardano has been building an ERC-20 converter that will allow tokens from Ethereum to be stored on their blockchain. <\/p>\n In particular, in contrast with other platforms that require users to lock their assets for a period of time, Cardano\u2019s staking lets users earn passive income without having to lock their assets. This freedom can make Cardano an attractive staking option for many users. <\/p>\n The hard fork is set to occur in about 5 stages, beginning in June 2021, and culminating with the deployment of the new changes to the Cardano mainnet in September 2021.<\/p>\n ____________________________________________________________________<\/p>\n RECOMMENDED READING:<\/strong>\u00a0[WATCH] East Africa\u2019s World Mobile Announces the Launch of its Utility-based World Mobile Token ($WMT) on the Cardano Blockchain<\/a><\/p>\n ____________________________________________________________________<\/p>\n Thank you for your support by helping us create content:<\/p>\n BTC address<\/strong>: 3CW75kjLYu7WpELdaqTv722vbobUswVtxT<\/em><\/p>\n ____________________________________________________________________<\/p>\n Follow us on\u00a0Twitter<\/a>\u00a0for latest posts and updates<\/em><\/p>\n Join and interact with our\u00a0Telegram community<\/a><\/em><\/p>\n _____________________<\/p>\n Subscribe to the channel below to keep updated on latest news on video:<\/p>\n \n\n
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