The Cardano (ADA) project developer IOHK deployed smart contracts on the cryptocurrency’s testnet. In this context, its price reached a new all-time high above $3, according to CoinGecko.
Yesterday, we upgraded the #Cardano testnet, successfully deploying #Plutus #smartcontracts capability. The focus now is on final component testing & exchange integrations, ahead of the #Alonzo mainnet upgrade, still on track for deployment on 12 September 💪 #Cardano $ADA pic.twitter.com/lrdiYIiNKD
— Input Output (@InputOutputHK) September 2, 2021
“Yesterday we upgraded the Cardano testnet, successfully deploying Plutus smart contracts. The focus now is on final component testing and exchange integrations ahead of the Alonzo mainnet upgrade, slated for deployment on September 12,” the company said.
Plutus — developed by the non-profit Haskell Foundation (funded by IOHK) framework enabling smart contracts to run on the Cardano blockchain. It is designed to provide fast access to applications and services operating on the network.
The implementation of smart contracts on the testnet allows developers to begin building decentralized applications to test them before launching on the mainnet.
As of writing, ADA trades near $2.95. The cryptocurrency’s market capitalization reached $94.68 billion.
Earlier this week, the ERC-20 token converter for the ERC-20 standard was announced for deployment on the testnet, which should serve as a bridge between the blockchain platform and the Ethereum network.
In July, the Cardano Foundation unveiled the project’s development plan for the next five years.
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