Cryptocurrency

Cardano Dev Team Reveals Plan for Smart Contracts Rollout

The Input-Output Global (IOG) Dev team of Cardano has made some substantial announcements on the next update of the platform. The next update has been scheduled to be executed with “Alonzo” at the Hard Fork Combinator (HFC) event. This new update, however, will signify the start of the smart contract capacity of Cardano.

The IOG unveiled the “Alonzo” plan with the release of the first phase next month – June with the full update release later around September 2021. IOG began with the Alonzo Blue test after arranging the testnets in series of color codes. The pioneer phase will be done with a task force and a spin-up, including main stake pool operators.

The test will focus on checking the basic functionalities of the network. The Alonzo Blue goes first in the initial phase with the Alonzo Hard Fork node and the pioneer distribution of the native token to the simple Plutus scripts’ stake pool operators.

After this is the Alonzo White launch with more partners included – demo dApps, collaboration with PAB and WBE, benchmarks, and more strategic partnership from the members of the community up to 500, including SPO – Stakepool Operators – and pioneers.

The testnet will enable the pioneers and partners to run scripts on the platform network with the initial benchmarking dApps for the Uniswap and other stablecoins versions. Additionally, the Alonzo White testnet will show the first exchanges linked to the Rosetta framework, a system developed by Coinbase for facilitating token addition to the platform.

After the Alonzo White, the Alonzo Purple testnet will follow in August with all the pioneers included with the partner dApps. In this test phase, Explorer and Daedalus Flight will be tested together with the platform stability.

After then will the next two-minute stages Alonzo Black and Red, come up. In the previous testnet, Alonzo Purple, the smart contracts, and Plutus would have been made perfect for the Hard Fork Combinator event holding on the first month of the third quarter, 2021.

Is Cardano a Place for Everyone to Use Smart Contract?

In another standalone news, the Cardano dev team, IOG, releases Marlowe Run, a model app that will be used to run the usage of smart contracts. According to an official statement from the Cardano Dev team, no technical experience of blockchain will be required from users to use the smart contracts.

Marlowe is a new programming language developed with the remarkable aim of developing financial contracts on the Cardano platform. Unlike the existing languages, this language will be much easier to read, comprehend, and write by users.

Currently, ADA is trading at the $1.68 price level with a minute decline from the previous day and a total of 11.1% increase on the weekly range. On a 30-day range, ADA is up for about 36.5% after reaching a milestone of $2.

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