Cardano IOHK developer has activated the Alonzo upgrade, which allows implementing Plutus smart contracts on the crypto's mainnet for the first time.
The update has occurred on September 12, 2021 at 23:44 (CET) via hard fork combinator (HFC) technology.
According to the project developers:
"The Alonzo upgrade will bring highly anticipated capabilities to Cardano through the integration of Plutus scripts onto the blockchain. These will allow the implementation of smart contracts on Cardano, enabling a host of new use cases for decentralized applications (dApps) for the very first time."
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They have pointed out that "it’s only just the beginning." According to them, some early dApps may be problematic and others, insecure:
"We can expect bad actors looking to take advantage via hacks, exploits, and the likes."
IOHK has pointed out that there are high hopes pinned on this modernization, however, partly unfounded:
"Cardano fans may anticipate that a complex ecosystem of consumer-ready dApps will emerge immediately after the update. Caution should be exercised in this regard."
Notably, the price of the ADA token has fallen by more than 10% following the upgrade, from $2.7 to $2.4.