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27 July 2021

What Is Cardano’s Alonzo Rollout and What Does It Mean for Ethereum? - Decrypt

What Is Cardano’s Alonzo Rollout and What Does It Mean for Ethereum? - Decrypt

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It also was founded in 2015, but rather than adding functionality quickly, IOHK, the project that oversees the development of Cardano, has been slowly adding features after extensive testing and peer review. .

Some six years after its inception, Cardano’s Alonzo upgrade is about to add a raft of new features that bring it more closely inline with Ethereum and other projects competing to be crypto’s builders playground. .

Alonzo is a hard fork that will, once complete, introduce new features to the Cardano network, such as the development of new dApps and DeFi functionality.

The addition of the Alonzo upgrade will give Cardano the ability to compete with other decentralized finance ecosystems like Ethereum, Binance, Polkadot, Solana and others. .

Ethereum is currently also in the process of a major upgrade, but the current hubris gives Cardano, and other rival projects includingBinance Smart Chain,Solana, andPolkadot, an opportunity to advance. 

The team at Cardano has been building an ERC-20 converter that will allow tokens from Ethereum to live on the Cardano blockchain

While still allowing users to move freely back to the Ethereum network at any time. 

It’s that interoperability that’s likely to encroach on Ethereum and other networks

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