Cardano, a Bitcoin competitor, has seen its price climb by more than 12% in just 24 hours. Smart contracts will be available on the company's mainnet next month. The Alonzo hard fork will be one of the most important updates for the proof-of-stake network because it will make it easier to implement decentralised finance (DeFi) protocols, which allow individuals to lend, borrow, and trade without the involvement of middlemen.