Cardano [ADA] is planning to replace Ethereum [ETH]

Recently, the blockchain firm Input Output [IOHK] released a document explaining several aspects of Marlowe, a blockchain programming language under the works by Cardano. Ethereum, one of the earliest cryptocurrencies in the space and the 2nd largest in the world, currently exhibits the premiere stage for smart contract development and virtual computing. To pursue advancements in the same area, the Cardano team is building Marlowe.TIP

Cardano [ADA] has been planning to utilize Marlowe as a Domain Specific Language which focuses on the execution of financial contracts in the style of Peyton Jones, among other researchers on the blockchain. The Marlowe DSL, as per IOHK is ‘an algebraic type in Haskell, together with an executable small step semantics’.

IOHK, regarding the pragmatic usage of Marlowe recently stated:
“For Marlowe to be usable in practice, users need to be able to understand how contracts will behave once deployed to the blockchain, but without doing the deployment. We can do that by simulating their behaviour on the chain, interactively stepping through the evaluation of a contract in a browser.”

LIONBIT

Marlowe is a language which will be utilized in the finance industry. When Cardano develops this language completely, it will be ready to execute financial contracts on its network. The language will give Cardano a solid representation in the finance industry, particularly in regions where escrow is required. Meadow, a web tool designed to support the interactive construction, revision, and simulation of smart-contracts to experience Marlowe’s potential.

Along with Marlowe, another programming language is being built by Cardano specifically for writing smart contracts called Plutus. Recently, the Founder and CEO of Cardano, Charles Hoskinson, spoke about Plutus. He stated that the Plutus team has been seeing a steady growth and that the main agenda of the project is to ‘ensure that the data can switch between multiple platforms’.


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Author: MaxPositives
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