By Shelly Melancon (Switzerland)
The Alonzo pilot, that is set to bring smart contract use cases to the Cardano blockchain, is now at the ‘Alonzo White’ phase. The pilot which began in June will span four months, according to Cardano’s co-founder, Charles Hoskinson. The network has been undergoing a lot of improvements lately.
The Alonzo pilot is one of the many projects Input Output Hong Kong (IOHK), the firm behind Cardano, has embarked upon in 2021. According to reports, the Alonzo pilots for Plutus smart agreements will be fully completed by September. In light of smart agreements, IOHK will be launching a smart-contract enabled product called the Marlowe suite on the network. Marlowe suite will enable users and organizations to create digital agreements by themselves without the need for a central authority or party.
IOHK Launches Marlowe Product Suite for Cardano Community
The Marlowe product suite also includes the Marlowe Build and Play which would give developers the opportunity to build smart agreements on the network and also make it open source by adding it to the Marlowe Library. There is also the Marlowe Run for end users to create any kind of digital agreement between themselves and relatives or friends.
While the Marlowe for Enterprise includes a range of tools empowering organizations to create smart agreements. The first phase for the Alonzo pilot is called ‘Alonzo Blue’, but there are other phases that will precede the main network. After the ‘Alonzo White’ which the pilot is currently at, there will be Alonzo Purple, Red, Black and then the main network itself.
At every phase, the pilot will be open to a handful of IOHK’s partners to perform activities on it. Upon the main network deployment, the Cardano community will be able to fully access the smart contract feature. When the pilot began in June, Charles Hoskinson said he wanted to improve the experience of users on decentralized applications. The Alonzo pilot will mark the end of the ‘Goguen’ upgrade for the network.
Cardano Lines Up Numerous Projects for 2021
Earlier in July, Cardano inked a partnership deal with DeFi lending protocol, Nexo Finance. According to reports, the partnership would provide more utility for the $ADA coin as users will be able to lend and borrow the crypto asset on Nexo Finance. The lending protocol was integrated into the network to enable the proposed use case. Last month, Cardano also collaborated with Nervos to allow for a multichain use case on the network, which would allow Cardono’s $ADA to be used on other networks with the aid of wrapping. Prior to this, liquidity aggregator Orion Finance became a new partner to Cardano.
All of these collaborations are just few among the retinue of projects which Cardano and its founding firm, IOHK have lined up for this year. Meanwhile, the Shelley project enabled the network to fully integrate the Proof-of-Stake consensus algorithm. As of July, the worth of $ADA staked on pools across all networks amounts to $30 billion.
At Tokenhell, we help over 5,000 crypto companies amplify their content reach—and you can join them! For inquiries, reach out to us at info@tokenhell.com. Please remember, cryptocurrencies are highly volatile assets. Always conduct thorough research before making any investment decisions. Some content on this website, including posts under Crypto Cable, Sponsored Articles, and Press Releases, is provided by guest contributors or paid sponsors. The views expressed in these posts do not necessarily represent the opinions of Tokenhell. We are not responsible for the accuracy, quality, or reliability of any third-party content, advertisements, products, or banners featured on this site. For more details, please review our full terms and conditions / disclaimer.