Will Cardano release smart contracts by October 1st?

Dan Weru Updated Jul 12, 2023  ⟨·⟩  3 mins read

A prediction market has opened. It encourages interested participants to predict if the Cardano will release smart contracts on the mainnet by Oct 1st.

Cardano is the fifth largest crypto, by market cap, with a market cap of just below 40 billion dollars. Although it's was the first major blockchain to build on a proof of stake (PoS) technology, it has lagged behind ethereum arguably because of its lack of smart contracts functionality.

Cardano is the home chain of ADA tokens, one of the largest and most enthuastic crypto communities.

According to the Cardano roadmap, smart contracts will go live when the project enters its third era, Goguen.

It began its second era, Shelley, in July 2020.

According to the latest update from its founder, Charles Hoskinson, smart contracts should be released sometime in September. However, a section of the crypto community anticipates that there will be further delays, hence the new bet.

As of this writing, shares on the prediction market were trading at $0.40 for “yes” and $0.60 for “no.” Whichever answer is correct will be redeemable for $1 in the USDC stablecoin.

More expensive bets are the ones seen as more likely to be correct, so this market currently leans to a prediction that smart contracts will not be live on Cardano when October begins.

Software development timelines are often flexible, and deadlines are often postponed, thus making it hard to predict how things will fall.

For those who place a "yes" bet, the Alonzo testnet, where smart contract featured development for Cardano is taking place, looks promising. It has made steady progress over the last month.

For instance, the project moved from the "blue" to "white" phase on Wednesday.

Cardano's smart contracts rollout plan

Elsewhere, the largest market by trade volume in the crypto category on Polymarket right now is a bet on whether Ethereum’s EIP-1559 is expected to launch by August 4th. As of this writing, the market has seen a trading volume of roughly $357,000.

Charles Hoskinson has responded to these developments about betting on Polymarket on Twitter and on youtube. On YouTube, he was clearly disappointed about this development.

Updates

IOHK announces smart contracts are coming to cardanos mainnet on September 12th

It seems [cardano will allow smart contracts by october 1st after all. The IOHK has announced that it is plans to bring smart contracts to cardano's mainnet on September 12th.


First published on Jul 16, 2021



Cardano