Charles Hoskinson - Cardano Smart Contracts Are Here (Ada Price Explosion)

Charles Hoskinson - Cardano Smart Contracts Are Here (Ada Price Explosion)

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Here, Charles Hoskinson provides updates on the upcoming Alonzo Hardforck Combinator (HFC) event and work-in-progress regarding infrastructure

Below is the summary of the update.

Work is ongoing on Version 1.4 of the node. The wallet back-end is going through QA at the moment. Graph QL, DB sync, and the Rosetta APIs are looking good. Everything has been wrapped up already. Before mid-August, many exchange partners will be brought to talk to the horses. There will also be a mid-month update when the HFC event will be announced. People are giving consolidated opinions of the best date for delivery based on the upgrade time.

Software readiness is looking very good. Bugs are very light. Those with flying squads have been corrected. White is looking great.

At the mid-month update, the precise date will be announced. Two dates will be given: one, primary, and the other one, fallback date.
Whenever an HFC event takes place, it has to be triggered five days before the actual day that the HFC takes place. So, if it's August 31, then it has to be triggered on the 26th. There may be up to 48 hours from the role of the epic to trigger the update. So, it could be the 28th.

But somewhere in that window, if the developers don't feel comfortable triggering, then, there will be a rollback date. And that's usually the next epoch. So, at the moment, the window is going to be from the end of August to the first week of September. But the exact date will be fixed based on the feedback the developers get from the exchanges and the rest of the partners who have to integrate it.

Many sets of infrastructure will be integrated. The Plutus application back-end is still a huge work-in-progress. So, the infrastructure layer will be deployed and developers will add to the development tooling. They will compile multiple languages to run on the Plutus core. At the moment, it's Plutus.

The current estimate for PHP being fully integrated is September 10. But that's a tentative date. Rest assured that when Hardfork occurs, you start running smart contracts on Cardano.

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