Cardano ADA/USD an open-source and decentralized blockchain platform, with consensus achieved through the usage of Proof-of-Stake (PoS). It successfully launched smart contracts after their hard fork.
Cardano was founded by Ethereum’s co-founder Charles Hoskinson and developed by his research firm, Input Output (IOHK).
The hard fork as a catalyst for growth
On September 2, we covered the potential an official Alonzo hard fork had when it came to the overall network.
On September 12, Input Output (IOHK) officially posted on Twitter that they deployed the Alonzo upgrade at the epoch rollover and welcomed us at the start of a new era for Cardano (ADA).
Alongside the celebration of such a milestone, Cardano also noted that it is still in the early days of the project, and according to a blog post, this is when the mission truly begins.
This Alonzo hard fork enables smart contracts to be written for Cardano through the usage of Plutus scripts.
The team describes it as a purpose-built smart contract development language as well as an execution platform that uses the functional programming language known as Haskell.
Should you invest in Cardano (ADA)?
To get a better perspective of what kind of value point this is and how much potential for growth the token actually has, we will be going over its all-time high value and will compare it to its recent performance.
The all-time high value of Cardano (ADA) was $3.09 and was achieved on September 2. This makes the all-time high value $0.69 higher or 28% higher than the value the token had on September 14.
ADA’s lowest point was on August 3, where the value fell to $1.27. However, its highest point was on August 24 where the token raised its value to $2.95. Here, we can see that the token climbed $1.68 in value or 132%.