Cardano (ADA) launches first phase Alonzo testnet and reveals plans for full launch

Cardano ADA launches first phase Alonzo testnet and reveals plans for full launch

Input Out Hong Kong (IOHK), the development team behind Cardano (ADA), launched the test network of the highly anticipated Alonzo platform on May 27.

The ‘Alonzo hard fork’ will finally bring so-called smart contracts to Cardano. With smart contracts it will be possible to launch decentralized applications (dApps) on Cardano and that means that decentralized finance (DeFi) can also be brought to the blockchain network.

On May 27, IOHK also revealed some details about the plans for the actual launch of Alonzo in a few months:

The launch of Alonzo consists of several phases that are labeled with a color. The launch of the current testnet is called “Alonzo Blue” and the testnet will initially only be accessible to a small exclusive group.

After about a month, ‘Alonzo White’ will start and then this group will be expanded. About a month later, the “Alonzo Purple” phase begins. This is perhaps the most important phase as the Alonzo testnet will then be available to the general public.

This is followed by two more smaller phases, “Red” and “Black,” and eventually Alonzo should launch on Cardano’s mainnet, or main network, sometime in September.

“This will probably be the busiest 90 days in the history of my company and the history of the ecosystem. I am not saying 90 days after this video that Alonzo will be on the Mainnet. What I am saying is that most crucial developments, integrations and coordination will take place in the next 90 days. ”

Said Charles Hoskinson, CEO of IOHK and founder of Cardano. With the launch of smart contracts via Alonzo, the project aims to compete with Ethereum (ETH). IOHK announced an “ERC-20 converter” last week to transfer DeFi tokens on Ethereum to Cardano. Hoskins lashed out at Ethereum yesterday, claiming the network will kill itself with ETH 2.0

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