There was a lot of anticipation in the community of Cardano for the first smart contract on Alonzo, the testnet of the project. Which can be said to be absolutely rewarded, in light of the news according to which its execution was successful. So much so that it was greeted as an epochal event by all those who, from the first moment, have followed and supported the project.
The reason for such enthusiasm is soon explained: its integration on ADA will make Cardano what it is Charles Hoskinson he had prophesied several times, or theEthereum Killer for excellence.
Cardano: why is the execution of the first smart contract so important?
As is now known, over the last few months the frictions between Cardano and Ethereum have become more and more frequent. A real trickle in which Charles Hoskinson and Vitalik Buterin certainly did not spare themselves. An attitude of evident hostility which is, moreover, justified by the importance of the stake at stake. In fact, until now Ethereum has been the real point of reference for those interested in launching projects in the decentralized finance sector (DeFi). A sector that is considered to be a real gold mine for its participants.
Cardano, with his moves, however, has gradually undermined the supremacy of the blockchain competitor, attracting an ever-increasing degree of investor attention. With Alonzo, his pursuit of Ethereum can be said to be completed.
Alonzo could mark the start of a new era for Cardano
Once the first smart contract is integrated into the Cardano mainnet, the project now referred to by many as the "cryptocurrency of professors", due to the presence of a large number of academics in the ADA development group, will not only feature the same functionality of Ethereum, but also two advantages that can make the difference. The speed of execution of transactions will be much higher, while their costs will drop exponentially.
Two characteristics capable of significantly shifting the current balance of power. Thus giving reason to the provocations of Hoskinson, according to whom the comparison between Ethereum and Cardano is unthinkable. As it would put a martial arts expert, ADA in front of an elderly person unable to react due to being tied to a wheelchair. A harsh judgment, but which could soon correspond to reality.
Cardano: what could happen after the announcement
The announcement concerning the execution of the first smart contract on Alonzo seems destined to give new life to Cardano. Precious at a time when ADA is also losing ground significantly on the markets. In fact, over the last 24 hours, its price has fallen by 8,27%, according to data collected by CoinMarketCap. While the drop recorded in the last week is 18,89%. A fate that is common to many of the most important tokens, at a time of great suffering for the entire sector.
The implications of the announcement, which give Cardano new credentials in the duel against Ethereum, could now push a large number of investors to bet strongly on Charles Hoskinson's project. Also due to the fact that the changes made make it a major challenger in that decentralized finance now seen as the big deal of the future.