Input Output Hong Kong, one of the companies behind the Cardano blockchain, today announced the launch of the first testnet for Cardano’s Alonzo upgrade.
Fast Facts:
- Alonzo is part of a series of upgrades to the Cardano blockchain that will bring smart-contract functionality to the blockchain and enable the deployment of a wide range of decentralized finance applications for the first time.
- Alonzo’s rollout will take 90 days and involve three phases — blue, white and purple — on its path to mainnet deployment. Each phase will expand to include more users and additional functionality and features. A smart-contract enabled Cardano is expected to be up and running by the end of August.
