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Cardano Set to Support Smart Contracts

Cardano_to_Roll_Out_Suite_for_DeFi_and_Smart_Contracts_Next_Month
  • Cardano network set to support smart contracts.
  • The Cardano will run Alonzo first before Marlowe.

Cardano has announced the launch of its numerous products that will enable the support of smart contracts. Most importantly, Cardano’s critical goal is making ADA accessible to a wider user base.

As such, IOHK aims to add features like Marlowe that will make it equally easy for novices and experts to create and use smart contracts. Moreover, this development ensures that the network is fit for the growing ecosystem of decentralized finance (DeFi).

However, before Marlowe, Cardano will roll out Alonzo Testnet. This hard fork will allow for the first time the execution of smart contracts in Cardano.

Alonzo Testnet Release

Everything is now ready for the release of the Alonzo testnet says, IOHK. In detail, IOHK is the company behind the development of the Cardano blockchain. The rollout will be done in stages – each with color-coded names – which will be implemented every month starting in June until its full release on the mainnet scheduled for September 2021.

Marlowe, a High-Level Domain-Specific Language

Marlowe enables developers and businesses to perform static contract analysis on their smart contracts. This will allow the execution of DeFi and all kinds of new products such as games, NFT marketplaces, identity tracking systems, transaction conditioning, etc.

Marlowe structure in Cardano
        Marlowe structure in Cardano

On Marlowe, contracts can be as simple as a lending agreement, to a mortgage contract, or even bonds. The Goguen era aims to attract a wider business and finance audience to create smart contracts regardless of their technical experience.

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