Cardano Developer Unveils Smart Contracts Platform Rollout Plan

Reynaldo Marquez

4 years ago

2 mins read

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

IOG reveal “Alonzo” rollout plan with an initial phase in June expanding to its full deployment in September 2021. Formed by a series of color-coded testnets, IOG has started with test Alonzo Blue. This first phase will be conducted with a pioneer task force, initial partners, and a spin-up with core stakepool operators.

The testnet will check basic network functionalities. Alonzo Blue will have the first exercise on this test phase with the Hard Fork node to Alonzo and initial distribution of ADA to stakepool operators simple Plutus scripts.

Later, IOG will launch Alonzo White with more partners involved, demo dApps, integration with WBE and PAB, benchmarks, and more participation from around 500 community members, pioneers, stakepool operators (SPO).

This testnet will allow partners and pioneers to run their scripts on the network with the first benchmarking basic dApps for versions of Uniswap and stablecoins. In addition, Alonzo White will introduce the first exchanges 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 Pioneers “onboarded” with the partners dApps. During this phase, components Daedalus Flight and Explorer will be tested alongside the stability of the platform.

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

Cardano, Where Everyone Will Use A Smart Contract?

In separate news, IOG launch Marlowe Run, a prototype app to facilitate the use of smart contracts. Users won’t require technical experience with blockchain, according to the official announcement. Cardano’s developer said:

The app incorporates the full, industry standard, ACTUS library of financial contracts. Being blockchain-based, it promises benefits in terms of cost, efficiency and security. It is populated with contract templates which have been written and tested by ACTUS experts.

Marlowe is a programming language with the special purpose of building financial contracts on Cardano. Unlike other programming languages, Marlowe will be “easy to read”, write and comprehend.

Thus, financial agreements will be settled on this blockchain without the need for a third party’s intervention. IOG seeks to “transform” the way businesses are conducted around the world.

ADA trades at $1,68 with small losses in the past day and an 11.1% profit in the weekly chart. In the 30-day chart, ADA still records a 36.5% profit after the cryptocurrency reached the important psychological mark of $2.

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

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