Cardano Is Soon Going To Launch Suite For Smart Contracts And DeFi

Cardano is on schedule towards being able to support smart contracts soon, and the entire process is said to be made even easier thanks to the new Marlowe development suite.

IOHK had been the one to announce the suite’s launch, which includes products that are said to all but guarantee that the network is truly ready for the ever-increasing DeFi ecosystem. As of the time of this writing, the ADA token is trading at a price of $1.63 with a negative price change rate of around 1.3%.

Simply put, Marlowe may be understood as a suite of various tools which will allow for the successful execution of the much-needed smart contracts on Cardano’s blockchain. This shall enable decentralized finance (DeFi) to be successfully executed alongside a variety of new products, including but not limited to NFT marketplaces, various games, transactions conditioning, identity tracking systems, and more.

Furthermore, Marlowe will also serve three different fronts, namely developers, end-users, and finally, enterprises. The developers shall receive three different products, namely Marlowe Build, Marlowe Play, and Marlowe Library. The end-users shall be receiving Marlowe Run, through which smart contracts will be automatically developed and will also include a wide variety of templates as well as non-technical explanations. Lastly, for enterprises, IOHK had developed a product that prioritizes the utilization of Actus (Algorithmic Contract Types Unified Standards) for the purposes of financial contracts.

Marlowe had initially begun its main alpha phase during the previous year, and it is now being reported that the aforementioned suite shall be launched soon along with the much-anticipated Goguen upgrade.

Alonzo preparations now complete

Everything seems to be in order for the ultimate release of the much-talked-about Alonzo testnet. The rollout is expected to be carried out via multiple stages, with each stage possessing color-coded names. These names shall be administered each month with June as the starting point, and the process will last until Alonzo can be fully released upon the mainnet itself, which is scheduled to take place later on in the year (sometime between August and September).

Smart contracts have been the one factor that has been constantly associated with Cardano, and it looks as if Charles Hoskinson’s project is finally ready to take that vital step towards implementation, which is sure to increase the cryptocurrency’s value even more.