Cardano ecosystem developers announced a programming language for smart contracts on the project’s blockchain. Cardano ecosystem will support a native programming language for smart contracts. This was announced by the developers of the project on its official website. According to the description, the programming language called Plutus is based on three components:
Plutus Core. Plutus’ onchain component
Plutus application platform (PAF). Offchain component for interaction with smart contracts.The language code is written in Haskell. With the deployment of Plutus, users are expected to be able to accelerate the growth of non-interchangeable tokens (NFT) based on the Cardano blockchain.
It is reported that closed testing of Plutus will begin between May and June. Blockchain developers will only be able to participate in the testing by pre-application.
Cardano versus Ethereum
Notably, earlier Cardano creator Charles Hoskinson criticized the economic model of the Ethereum ecosystem because of the high commissions. According to Hoskinson, there is nothing of value and stability in the current Ethereum model for the long term.
That said, he said he doesn’t see much point in creating smart contracts to import liquidity from Ethereum.
“You know what that [smart contracts under Ethereum] would lead to? Commissions of $60-$100 per transaction. Profitable farming. Useless DeFi. Sales of useless NFTs for hundreds of thousands of dollars,” he said earlier.
The ADA project token itself, meanwhile, is on the rise. At the time of writing, the token in the ADA/USDT trading pair is up 17.3% to $1.55.
The token’s capitalization rose 17% to $49.7 billion. Read about why Cardano’s founder did not see innovation in bitcoin in the BeInCrypto article.