Know How Cardano Could Potentially Re-Define DeFi

By employing blockchain technology, Cardano (ADA) claims to solve real-world problems. It has, for example, working with the Ethiopian government to monitor the educational progress of 5 million youngsters on its network. Students will receive a tamper-proof academic record as a result of the initiative, which might be useful if they are looking for work or considering studying abroad. Cardano has taken a planned approach to its development. The team believes in comprehensive research and testing prior to deployment. This is why Cardano’s Alonzo Hard Fork took some time to be deployed on the mainnet. Alonzo Hard Fork is Cardano’s third major update in the Shelly Era. The currency has five primary stages of development, commonly known as “eras” – Byron, Shelley, Goguen, Basho, and Voltaire — all of which will improve the overall functionality of the network. The platform’s final important improvement during the Shelley period, Alonzo, ushers it into the Goguen era. The Alonzo update has three stages: Blue, White, and Purple. They will be followed by Alonzo Red and Alonzo Black, who will add more people to the networks and fix any problems that have emerged. Alonzo Blue will add smart contracts to the network, similar to those present on the Ethereum network. Cardano’s smart contract capabilities are a huge step forward, letting it compete with other programmable blockchains and greatly expand the range of solutions available to...