Founder and CEO of Cardano, Charles Hoskinson, is planning a big series of upgrades for the Cardano Network. In a recent video posted on his own YouTube channel, Charles presented a detailed roadmap which highlighted that Cardano is going to get some serious upgrades and will also work on its worldwide expansion, mainly focused on giving the people of the African continent to shine on the network.
Charles said in his video that the company has been working hard to expand its reach by intelligently allocating the correct resources where required. The current plan is to invest around $15 Million in the Research and Development sector, providing funds for the construction of new laboratories, giving more hiring opportunities to newly graduated students and other worthy applicants who are willing to do their best for the company while also trying to experiment with new stuff.
Adding to that, Charles also mentioned Cardano’s expansion into the commercial sector, especially in the African continent, with the proper resources, can give rise to a ton of new opportunities across the map.
Now, in light of the new upgrades mentioned, Charles stated that the new update, formally named Alonzo, will bring a lot to Cardano. The Alonzo upgrade will include the highly demanded smart contracts feature, estimated to release into the Cardano network around August of this year. The smart contracts feature will definitely get Cardano into a competition with Ethereum, which already has been providing smart contracts to its users.
Smart contracts will enable the Cardano network to gain access to the best of trading spaces in the crypto market, mainly targeting the DeFi sector, the NFT sector, and decentralized cloud-based schemes.
Charles seems to be very optimistic about these new plans, which given the correct planning and resource allocation, can build an extremely robust foundation for solid trading opportunities. He said that when the Cardano network is upgraded with Alonzo, it will really pull all the spotlights on itself, attaining the attraction of the highest level. Charles also highlighted the amazing support of the Cardano community and thinks that the community of Cardano has done a wonderful job in providing crucial updates on the performance of the network while also helping each other to find solutions to fix problems.