Alonzo is slated to provide the network with exciting and long-awaited new features by incorporating Plutus scripts onto the blockchain, enabling the development of smart contracts on Cardano and the deployment of a wide range of new Defi applications for the first time. During the stream, Hoskinson alluded to a large business engagement traction with the network:
Hoskinson faces Twitter critics
When year-old posts showing ADA network adoption projections failed to match community expectations, the tech entrepreneur came under fire on Twitter. Although ADA is the fifth-largest cryptocurrency by market capitalization and self-described third-generation blockchain project, the network is not without its critics. The Ethereum co-founder added in response to Twitter disagreement:
Institutional interest in ADA
The Colorado-based tech entrepreneur stated a tremendous amount of business interest and traction community effort with ADA. Furthermore, the mathematician regards his network as the number one stake network in the entire space, with a massive community following its developments on every social channel from Reddit to Telegram. To this end, Hoskinson added: Additionally, Cardano was recently accepted as Grayscale Investments’ third-largest position, showing the rising demand for the digital asset, and as a result, it has attracted a lot of institutional attention. Related video: Brief Update on Alonzo [coinbase]
