Cardano Ready to Disrupt the Financial Industry After Launching Plutus and Marlowe Programming Languages

Cardano Ready to Disrupt the Financial Industry After Launching Plutus and Marlowe Programming Languages

Cardano Platform

It’s a double-digit slump across the board and while Bitcoin trade below $3,500 at the time of press, ADA the native currency of the in-progress Cardano platform is printing new 2018 lows. Last year’s gains super gains have been reversed but the team is tirelessly working towards achieving its mandate. The objective of making it a home for ADA and a technology platform.

Read: Facebook Started Searching for Blockchain Specialists

On its own, Cardano is a smart contracting platform that aims to compete and even dislodge Ethereum and other competitors as Waves and Tron. Cardano proposal is to research, create and incorporate advanced and unique features distinguishing itself from others. It is for this reason that IOHK—the research and development wing under the guidance of the founder, Charles Hoskinson did launch Plutus and Marlowe. They are in test format but these two will allow developers to write smart contracts needed for the Cardano blockchain.

“We’re really excited to release testbeds of Plutus and Marlowe so developers, finance professionals, and academics can test how they can use smart contracts on Cardano. Both technologies are a major step forward for the blockchain industry. They have been rigorously designed by a team of leading experts in programming language design, with the aim of reducing the kinds of software bugs that have led to huge losses totaling hundreds of millions of dollars.” —IOHK CEO Charles Hoskinson

Marlowe is a domain specific language (DSL) modeled as an executable small-step semantics and is an algebraic type in Haskell. Through this tool, users can easily execute financial contracts in Cardano and specifically made for the financial industry where the creators want to have a foothold on.

“The goal of Marlowe is really about saying – I have a collection of financial transactions and what I want to do is to write those transactions up in a very careful way with the DSL [Domain Specific Language] and because it’s a DSL, I’m gonna be able to write them in a very concise way and a very fast way and I’m gonna be able to test and verify that my intent matches what I’ve actually written.”—Charles Hoskinson, Founder Cardano

What’s unique about Marlowe is that users would create and execute smart contracts related to funds in escrow without hitches. Besides, Marlowe can be embedded in another smart contracting language. For full immersion on Marlowe’s capability, the team developed Meadow. it’s a tool that allows for construction, revision, and simulation of Marlowe compiled smart contracts.

Meanwhile, Plutus is a general-purpose programming language and through Plutus Playground, IOHK scientists have created an exploratory environment for testing Plutus smart contracts. These contracts are readily deployed on the blockchain and its creation is an attempt to merge the client, server and blockchain side.

Video Courtesy of Sebastien Guillemot
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