Smart contracts on Cardano are right around the corner. I know we’ve been hearing it for a while, but development teams have breezed through every step in the rollout process. We are now approaching the completion phase. Everyone might not realize it yet. This is a very exciting time for the industry because Cardona will be giving the builders in space new tools to take blockchain technology to the next level.
You can stake your ADA with us to make those sweet profits, click the link in the description to find instructions on how to stake your Cardano with the bit squad. Amy Arnott from the 244 billion dollar asset management group morningstar says that she thinks Cardano will be one of the big three in crypto for the foreseeable future.
Being an old FI Amy wants to see a Cardano ETF, just like the rest of the world, probably not going to happen anytime soon, Amy just buy ADA the sec can barely understand the difference between crypto-assets and security, let alone the value of an ADA Etf, maybe they could if Elizabeth warren would stop maniacally screeching about bitcoin while ignoring the massive transfer of wealth that happened during 2020. That’S robbed the middle class of their wealth line, the pockets of mega-corporations. Uh! Oh, wait! Where was I oh right?
In his most recent, warm and sunny Livestream Cardano founder Charles Hoskinson said that he was confident. Smart contracts would be ready by sometime in August or September, as long as there are no major bugs that need to be fixed along the way. He was actually bold enough to say that he doesn’t anticipate any more delays because things have been running so smoothly on the test net.
So far, uh-oh last week, IOHK Cardinals main development office announced that the white phase in the Alonzo hard fork had already been completed. This is the phase of the test net, where activity was strictly limited to core infrastructure developers. Next Cardano will be entering Alonzo’s purple phase, which will allow stake, pool operators and app developers to begin building on the network.
Hopefully, this part of the process won’t take any longer than two months, but even if there is a small delay, we are now in the final phases of the launch of smart contracts on Cardano, which is probably one of the most anticipated crypto events of this cycle. Real quick: what is Cardono city if anyone watching knows, please give us a scoop, it looks awesome.
This cryptic Twitter account popped up out of nowhere and posted a single photo of what looks to be Charles Hoskinson smoking, a cigar while jacked into the matrix i’ll. Take the red pill, please: Plutus Cardano’s smart contract platform promises to be safer and more functional than solidity.
The programming language that was specifically designed for Ethereum the developers who are choosing Cardano says that Plutus is more secure because it runs on the Haskell programming language which has been in use since the late 1990s and has seen steady development ever since. Giving programmers plenty of time to work out bugs and patch vulnerabilities. This means that Cardano is building its network on a strong foundation.
It’S already been battle-tested through the years of use in the wild on a more technical level. Pluto is a bit easier for coders to work with because a Haskell language can be cleaner. Programmers can use simple scripts to build their code. For example, a plus b minus c is a coding format that could be used with Plutus. This wouldn’t work with solidity.
Instead, coders would need to enter in a script that looked more like this. I don’t even know how to read that this can get unnecessarily inconvenient for developers, especially when they are working with large programs and applications. Solidity has made a lot of things possible, but it’s also been heavily criticized by developers who have found it to have many flaws, while it has yet to be proven.
Some developers also believe that pluto smart contracts will be more resistant to MEV, which stands for maximum extractable value. The term was previously minor, extractable value, but now that blockchains are growing and evolving miners are no longer the only insiders in these ecosystems, so the definition was expanded to include other participants who might have opportunities to exploit the system.
Mev is basically when miners or stake pool operators are able to front-run users and take a cut of their trades because they can reorder transactions and decide which block is validated next, it is possible that we could see less of this behaviour on Cardano because the Gas mechanics work much differently, but we shouldn’t get our hopes up just yet.
Mev is a very complex problem and has been very difficult for developers to eliminate some blockchain experts even say that MEV will always exist in one form or another, but it will be interesting to see if Cardano’s unique programming language presents any challenges for the greedy front. Runners that have been digging into our pockets, in addition to their revolutionary new blockchain infrastructure. Cardano has also made significant progress on the application layer as well. NFT platforms are already starting to launch on Cardano they’re, not just carbon copies of the storefronts that we’ve seen with other networks.
This week, wolfram blockchain labs, one of Cardona’s partners, announced that they would be hosting a live minting NFT event. The team is also calling this idea. Experiential NFTs live minting is creating NFTs in front of an online audience in real-time as a way of creating a memorable event and recording it on the blockchain. This makes minting more of a public event instead of something that is only seen by the owner or creator. There are a ton of different use cases for this.
It can be something as simple as a birthday card or as big as a sporting event. Critics will say the other smart contract platforms have had a head start or the Cardano’s late to the party because it’s taken so many years to fully launch. But what? If they’re thinking about it, all wrong? What Cardano’s network ends up gaining an advantage because his developers have had extra time in the lab where they were able to observe the mistakes and breakthroughs that were happening in the industry.
First, movers in the space ran up against plenty of obstacles early on. They spent years trying to rework their systems through a frustrating process of trial and error. Ethereum has gathered a dominant network effect because of its first to market advantage, but if Cardano is able to launch with a more functional blockchain that head starts well, it may not matter so much in the end with all that being said, there’s no reason to take A maximalist viewpoint here: this industry will likely grow into a network of cooperating blockchains that will be completely interoperable and the connections will be so seamless that they will be invisible to the average user.
There is no doubt in mind that Cardano and Ethereum will both be industry leaders for many years to come, which is why I always say: don’t sell your Cardano, don’t sell your Ethereum, don’t sell your bitcoin. Maybe you don’t want to sell your XRP either.
Cardano believes, though, in a multi-chain future as well. That’S why developers are building an easy converter for erc20 tokens and bridges to multiple other chains. Last month it was announced that a bridge would be built between Cardano and nervous.
A blockchain, that’s specifically built for interoperability between blockchains last week, nervous posted an update on the bridge, saying that a few small tests needed to be completed before the bridge can be used by the public.
Read More: COTI – Currency of the Internet