(2021-09-09) Binance Throws Its Weight Behind Cardanos Alonzo Hard Fork

Binance Throws Its Weight Behind Cardano's Alonzo Hard Fork. The world's largest crypto exchange, Binance, has announced that it will support Cardano’s upcoming network upgrade.

Billed as Cardano’s “most significant” upgrade to date, the Alonzo hard fork will bring smart contract functionality to the network, meaning that developers will be able to build decentralized finance (DeFi) apps that enable the lending, borrowing, and trading of assets without resorting to centralized intermediaries such as banks.

Last week, Cardano's smart contract functionality was rolled out on its testnet

The launch of smart contracts on Cardano hasn't been plain sailing, however. Following the roll-out of the Alonzo testnet, Cardano’s first decentralized application (dapp) Minswap was forced to shut down prematurely due to a so-called “concurrency” issue, which meant that only one user could interact with a smart contract per block or transaction.

However, Sundaeswap, another decentralized exchange (DEX) building on Cardano, said it had managed to work around the issue, refuting the one-transaction-one-block allegations.