The Cardano Input Output Global (IOG) developer has made several major announcements regarding the upcoming platform update. Scheduled to be implemented with the Hard Fork Combinator “Alonzo” event, this new era will usher in Cardano’s smart contract capabilities.
IOG reveals the implementation plan for “Alonzo” with an initial phase in June that will expand until its full implementation in September 2021. Consisting of a series of color-coded testnets, IOG has started the Alonzo Blue test. This first phase will be carried out with a pioneering working group, initial partners, and a turnaround with key stakeholder operators.
The test network will verify the basic functions of the network. Alonzo Blue will have the first exercise in this test phase with the Hard Fork node to Alonzo and the initial distribution of ADA to Plutus simple script share operators.
Later, IOG will launch Alonzo White with more involved partners, demo dApps, integration with WBE and PAB, benchmarks and more participation from around 500 community members, pioneers, interest group operators (SPOs).
This testnet will allow partners and pioneers to run their scripts on the network with the first basic benchmarking 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 the addition of tokens to these platforms.
After that, in August, Alonzo Purple will launch the first public testnet with all Pioneers “onboard” with dApps partners. During this phase, the Daedalus Flight and Explorer components will be tested along with the stability of the platform.
Finally, Alonzo will have two small stages called Red and Black, but Alonzo Purple will have “practically” Plutus and smart contracts ready for the HFC event in the last month of the third quarter of 2021.
Cardano, where will everyone use a smart contract?
In separate news, IOG launches Marlowe Run, a prototype application to facilitate the use of smart contracts. Users will not require technical expertise with blockchain, according to the official announcement. The Cardano developer said:
The application incorporates the complete industry standard ACTUS library of financial contracts. Being blockchain-based, it promises benefits in terms of cost, efficiency, and security. Contains contract templates that have been written and tested by ACTUS experts.
Marlowe is a programming language for the special purpose of building financial contracts in Cardano. Unlike other programming languages, Marlowe will be “easy to read”, write and understand.
Therefore, financial agreements will be resolved on this blockchain without the need for the intervention of a third party. IOG seeks to “transform” the way businesses are conducted around the world.
ADA is trading at $ 1.68 with small losses on the last day and a gain of 11.1% on the weekly chart. On the 30-day chart, ADA is still posting a 36.5% gain after the cryptocurrency hit the all-important psychological mark of $ 2.
ADA with small losses on the daily chart. Source: ADAUSDT Tradingview