100 Smart Contracts Deployed On Cardano 24 Hours After Alonzo Upgrade

More than 100 smart contracts are now live on the Cardano ADA/USD blockchain.

What Happened: One hundred smart contracts and one decentralized application were successfully deployed on the Cardano network just 24 hours after the Alonzo upgrade brought the smart contract functionality to the network, according to a report from CityA.M.

“This upgrade is the culmination of six years of incredibly hard work with some of the brightest minds in blockchain and beyond,” said Cardano’s creator Charles Hoskinson.

“The focus is now on improving the platform further, and ensuring that Cardano is adopted by corporations and governments. With this launch, commercialization is as much in the hands of the community as it is the system architects, and they are already delivering – in less than 24 hours, over 100 smart contracts have already been run on the network,” he said.

Toward the end of the month, the Cardano Summit will showcase several projects and applications that have been building on the network.

According to IOHK, the event will also include important updates on the smart contracts roadmap and the ongoing evolution of the technology stack.

Price Action: ADA was trading at a price of $2.46 Thursday afternoon, down 3.13%. The third-largest cryptocurrency by market cap has rallied over 1,500% since the beginning of the year to hit an all-time high of $3.033 earlier this month.