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28 September 2021

Cardano Successfully Deploys Alonzo HFC, But Why Is Price Down?

Cardano Successfully Deploys Alonzo HFC, But Why Is Price Down?


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On September 12th, 2021, Cardano successfully completed the final stage of its move to make the network compatible with smart contracts.

The new upgrade has been successful so far, with over 50 smart contracts already deployed on the network, and counting.

A major reason that the price has not recorded any significant upward movement has to do with the fact that it will take a while before decentralized applications (DApps) are live on the network, as developers will need time to properly test and deploy their apps on Cardano.

With the number of smart contracts being deployed on the network, there will be a large influx of DApps coming to the network, leading to a rise in decentralized exchanges and finance on the network.

Cardano has its work cut out for it given that the ecosystem is a permissionless, decentralized blockchain so it will have to deal with the good, the bad, and the ugly that comes with this?

Security is also a big issue that the network will have to deal with as decentralized applications debut on the network.

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