ADA’s Alonzo – Not Another London Hard Fork By DailyCoin

• The first public innovative contract testing experienced backlash after facing “design challenges”
• Minswap, the first DEX on , was forced to cut its testnet short after users discovered concurrency issues
• Blockchain communities and developers criticized Cardano’s ability to meet existing network demands

Blockchain novelties inevitably stir up any innovative community. A mainnet release creates a “what-if” parallel, suggesting potential shifts in the power of the blockchain industry. Cardano’s Alonzo hard fork triggered a price surge as developers await the much anticipated smart contract functionality to be operational on the network. However, not every update testing period alters the industry’s trust in the project.

A Concurrent Issue

To asset market dominance, a blockchain project needs to convey trust. Even though a strong community backs Cardano, they cannot make up for the lengthy development delays. The EUTXO protocol model developed by Cardano “offers greater security” and “allows for fee predictability,” a factor previously omitted on .

Cardano’s Purple testnet phase that focuses on applying and deploying smart contracts on the network saw unprecedented criticism. Users testing Minswap, Cardano’s first DEX, were greeted with the message,” UTxOs are being used on this block.” The error illustrates that Cardano cannot process more transactions during a block, which is contrary to the project’s network proposition.

Concurrency “issues” means different agents cannot interact with a smart contract at the same time. This brings forth discussions regarding the possibility of Cardano to meet the industry’s harshest demand. Web3 developer, who goes by the Twitter (NYSE:) username self-repaying scoopy, told Dailycoin that “when you don’t have a product, there is no basis for valuing it” as a community hype drove its price.

Crypto Twitter was ruthless towards Cardano’s smart contract issues. Anthony Sassano, the founder of The Daily Gwei, noted that “the first dapp on Cardano can’t even do concurrent transaction processing,” restricting its ability to run a DEX on the network. However, self-repaying scoopy told DailyCoin that “concurrency inherent in the eUTXO model” will make smart contract development difficult compared to other networks.

On The Flipside

• Cardano’s smart contract issue only impacts concurrency and therefore DeFi, but could still work for other blockchain products.
• A cult-like community has formed around Charles Hoskinson.
• A cryptocurrency with smart contract flaws has an $82 billion market capitalization.

Minswap Goes: The Post-Mortem

Input-Output (IOHK) released a statement that claimed Cardano’s UTXO uses a “different programming paradigm for dApps than on account-based blockchains such as ETH,” thus, Cardano gives more freedom to developers to “enforce parallelism.” DailyCoin reached out to Cardano and…