IOHK announces the launch of smart contracts Plutus and Marlowe for Cardano blockchain
One of the leading names in blockchain research, IOHK announced on Tuesday the launch of two new tools for developing smart contracts for the Cardano blockchain. According to the press release, Plutus and Marlowe have been launched now in test format.
The launch of these powerful tools will help financial institutions, financial services, and academia to develop smart contracts that would run on Cardano.
As per the press release, scientists and developers at IOHK have integrated Haskell function language with Cardano to create a platform for developers who can use the platform to create robust smart contracts.
IOHK has also developed an exploratory development and testing environment for Plutus contracts based on a blockchain emulator called the Plutus Playground. The best part about these smart contracts is that they are ready to be deployed.
Speaking about the launch of the two new smart contracts, Charles Hoskinson, CEO of IOHK said, “We’re really excited to release the test versions of Plutus and Marlowe so developers, finance professionals, and academics can test how they can use smart contracts on Cardano. Both technologies are a major step forward for the blockchain industry. They have been rigorously designed by a team of leading experts in programming language design, with the aim of reducing the kinds of software bugs that have led to huge losses in the range of hundreds of millions of dollars.”
Marlowe contract is built by combining a small number of building blocks that describe a payment being made and waiting unless a certain condition becomes true. Where these two tools differ from early approaches is the fact that the tools make sure that the instructions are followed.
The launch of the two new smart contracts doesn’t come as a surprise to many as Charles Hoskinson and Jeremy Wood have developed a strategy for the Cardano blockchain that is an amalgamation of academics and formal discipline of Haskell. The skilled development team at IOHK is working diligently to bring reliability and security at Cardano and its ADA cryptocurrency.
The company is planning to roll out the full release of Marlowe by mid-2019 when it will be available on Cardano SL. Earlier this year on December 5, the IOHK team announced the launch of the Cardano testnet. The testnet has been released with Cardano version 1.4 that consists of Cardano SL 2.0.0 and Daedalus 0.12.0. The release also consists of a wallet data migration and a new wallet backend with new v1 API.
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