Cryptocurrency News

Cardano Unveils Smart Contracts Platform Rollout Plan

Cardano’s developer Input Output Global (IOG) has made several important announcements On the next update of the forum. Schedule to be implemented with the Hard Fork Combinator event “Alonzo”, this new era will mark the beginning of Cardano’s smart contract capabilities.

IOG It shows The “Alonzo” rollout plan extended to its full deployment in September 2021, with an initial phase in June. Constructed by a series of color-coded testnets, IOG has begun testing with Alonzo Blue. This first phase will be conducted with a spin-up with a leading task force, initial partners and core stakepool operators.

TestNet will check basic network functions. Alonzo Blue will conduct the first exercise on this testing phase with the Alonzo having a hard fork node and the initial distribution of ADA to the Steakpool operators simple plutus script.

Later, IOG will launch Alonzo White, with more partners, demo DAP, integration with WBE and PAB, benchmarks, and participation from more than 500 community members, leading, Stakepool Operators (SPOs).

This will allow TestNet partners and pioneers to run their scripts on the network with earlier benchmarking basic DAPs for versions of Uniswap and Stablox. In addition, Alonzo White will introduce the first exchange integrated with the Rosetta framework, a mechanism created by Coinbase to facilitate adding tokens to these platforms.

After that, in August, Alonzo Purple will launch the first public testnet with all the Pioneers “onboard” with partner DAP. During this phase, components of the Daedalus Flight and Explorer will be tested along with the stability of the platform.

Finally, Alonzo will have two short stages called Red and Black, but Alonzo Purple will have “too many” Plutus and smart contracts ready for the HFC event in the final month of Q3, 2021.

Cardano, where will everyone use smart contracts?

In separate news, IOG launched a prototype app, Marlowe Run, to facilitate the use of smart contracts. According to the official announcement, users will not require technical experience with the blockchain. The developer of Cardano said:

The app includes the complete, industry standard, ACTUS library of financial contracts. Being blockchain-based, it promises benefits in terms of cost, efficiency and security. The contract is filled with templates that have been written and tested by ACTUS experts.

Marlow is a programming language whose special purpose is to create a financial contract on Cardano. Unlike other programming languages, Marlow has to be “easy to read”, write and understand.

Thus, financial agreements will be settled on this blockchain without the need for any third party intervention. The IOG wants to “transform” the way businesses operate worldwide.

The ADA is trading at $ 1,68 on the previous day with a small loss and an 11.1% gain on the weekly chart. In the 30-day chart, the ADA registered a 36.5% gain even after the cryptocurrency reached the significant psychological mark of $ 2.

ADA with small losses in daily chart. The source: ADAUSDT Tradingview

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