Cardano's Alonzo Hard Fork gained momentum as soon as it was released on the network, according to the Cardano blockchain. On September 13th,2021, the Alonzo update was published and made available on the mainnet. This development has allowed smart contracts to be created and deployed on the mainnet.
Alonzo gives Cardano smart contract capabilities. It also enhances the functionality of Cardano by incorporating Plutus scripts written using a simple functional language like Solidity or Haskell and allows users to place the scripts.
What are Smart Contracts?
Smart contracts are pre-programmed digital agreements that can be automatically executed. They can be changed and executed automatically. They are not open to the involvement of middlemen or third parties.
Smart contracts can be divided into two types:
One scenario is to transfer a value concept (or set) from one actor to another actor or group of actors. It must include a representation of the value as well as the rules, circumstances, and an event to activate it. This is known as a financial contract and is best done using domain-specific languages.
The other scenario is where you need to create a program or application. This application is composed of a triangle.
* Client is the program that runs on your machine.
* A server is a computer that runs on another server (or multiple servers).
* The smart contract allows for decentralized operations.
Which programming languages does Cardano use to develop smart contracts?
As you can see, there are three languages that Cardano uses for smart contract development.
Marlowe
Marlowe, a domain-specific language (DSL), allows users to create blockchain applications that are specifically designed for financial transactions. The Marlowe DSL can be compared to Turing-complete languages.
* Better Security
* Assured Security
* Enduring Guarantee
* Better guarantee of correct behavior
Marlowe's design guarantees the following features:
* Contracts are for a set duration and do not allow looping or recursion.
* All actions and contracts will be terminated.
* Contracts are only valid for a certain time.
* No assets are retained at the closing
* Preserving value
Plutus
Plutus, the smart contract platform for Cardano's blockchain, is called Plutus. It allows the creation of apps that can communicate with the Cardano Blockchain. Plutus allows all programming to be done using Haskell and a single library. It allows developers to create safe apps, acquire new assets, and build smart contracts in the most predictable and deterministic environment. Developers are not required to run their code on every Cardano node. Plutus allows you to do the following:
* Make new tokens in a minimal setting
* Create smart contracts
* Support for multi-signature scripts
Haskell
Plutus's fundamental language is Haskell. It is used by Cardano to create smart contracts. Haskell also regulates Marlowe which is a domain-specific language used to create Cardano's financial smart contract. Even though Haskell doesn't rank highly on Google, it is still the first choice for Cardano when it involves implementing a programming language. Why does Cardano do so?
Let's look at the motivation behind Haskell's choice of Cardano as the motto. This is because Haskell is able to write robust codes. Haskell's name was inspired by the name of Haskell Curry, an American mathematician. Curry was a pioneer in functional programming languages. His interest in functional programming languages was the basis for Haskell's definition in 1990.
Haskell, a functional programming language, is able to create high-assurance codes that require a significant degree of verification of their formal nature. Cardano developers can be confident that Haskell will provide a high level of certainty which helps to ensure that code is correct and robust.
To read more - https://www.leewayhertz.com/smart-contracts-on-cardano/
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