Cardano (ADA) will receive the announced smart contract functionality on Mainnet on September 12. Will the price manage another 100% rally?
ADA investors in joyful anticipation
What lasts a long time will finally be good. Or at least appears – as now in the case of Cardano (ADA): The integration of the smart contract functionality was promised for a long time, repeatedly postponed, but now the date is fixed. On September 12th, i.e. this Sunday, Cardano will receive the longed-for upgrade on Mainnet.
This is what the company behind Cardano, Input Output Honk Kong (IOHK), promises on Twitter:
“LAUNCH CONFIRMED:Today, at 17: 26 UTC, we successfully submitted an update proposal on the Cardano Mainnet to trigger a Hard Fork Combinator event on Sunday💪 🙌”
LAUNCH CONFIRMED: Today, around 17: 26 UTC we successfully submitted an update proposal to the # Cardano mainnet, to trigger a hard fork combinator event on Sunday 💪 🙌 # Cardano $ADA 1/6 pic.twitter.com/rEtjrdGiBV
– Input Output (@InputOutputHK) September 7, 2021
Cardano founder Charles Hoskinson happy about the scheduled launch:
“Many people ask’ Well, what can you do from the 12th? Well, quite a lot! They have smart contract skills that are limited to the developer’s skills, imagination and tools.“
“On the 12th ,if you can submit and get it to work, it will run on the mainnet. So smart contracts are here, congratulations.“
Cardano Smart Contracts: too slow for DeFi?
Previously, the Ethereum co-founder faced heavy criticism after launching the smart contracts on testnet. Many consider the smart contracts on ADA, for example, too slow to be used seriously in the DeFi area. This accusation is addressed by the crypto experts of Weiss Ratings in a recent analysis. The result paints a bullish perspective for Cardano. research analysts:
“‘Cardano’s smart contracts have a significant scaling problem,’ says the press. Cardano uses a completely different architecture than the one the industry is used to. There are no scalability issues, and there’s nothing a smart contract platform can do that ADA smart contracts can’t.“
1 / “Cardano’s smart contracts face major scalability issue”, says the media. # Cardano uses an entirely different architecture from what the industry is used to. There are no scalability issues, and there’s nothing a smart contract platform can do that $ADA SC cannot do.(THREAD)
– White Crypto (@WeissCrypto) September 7, 2021
Rather, the problem is that the crypto industry needs “years” to figure out how to do things with a particular blockchain. This has been shown, for example, with Ethereum, so Weiss Crypto.
Nevertheless, it is likely that the successful launch of the smart contracts in the Mainnet powerful influence on the ADA course. Just the announcement that the smart contracts are coming brought ADA on September 2 to the previous all-time high at $ 3.10 (data from Coinmarketcap.com However, it is also possible that the event is already priced into the current price and that a sell-off will occur after the release on Sunday. At present, it is not possible to reliably predict a clear development here. In the longer term, however, experts at ADA (to buy from eToro or Libertex) expect a sharp increase. Guy, for example, the host of the Youtube channel “Coin Bureau”, considers an increase to $ 5 by the end of the year:
“I could imagine ADA reaching $ 4-5 by the end of the year, assuming Bitcoin experiences another surge in September or October, which I think is likely.“