Cardano is one of the world’s leading cryptocurrencies sitting proudly at third place on the CoinMarketCap list. So it should come as no surprise that the coin is constantly being improved as new features and updates are being rolled out by the devs.
The development team has released a testnet update
Today, the Cardano testnet has received the latest update that will no doubt prove a significant milestone for the further development of ADA. The update focuses on the overall enhancement of the testnet performance, and of course, the deployment of Plutus smart contracts.
The smart contract functionality will be available to the Cardano mainnet users following the Alonzo hard fork scheduled for 12th September.
According to Input Output – an organisation specialising in researching and developing Cardano – the components of the upcoming update are still being tested by the team to achieve maximum functionality.
The Plutus framework will be used for deploying smart contracts
As mentioned before, the developers resorted to the Plutus Core to implement smart contract functionality. Input Output has already described Plutus as the framework that will be used for defining parameters of EUXTO transactions. EUXTO is essentially an extended version of UXTO, which is considered to be an accounting model superior to most models available on the market at the moment.
Besides, Plutus Application Framework (PAF) will be used to compile the code for the smart contract functionality. This is welcome news for all the apps and services that work within the Cardano network as for them the implementation of PAF will mean easy access at all times.
Another welcome addition to the new extended functionality is the compatibility with all popular browsers. This will beyond doubt make using the network that much more convenient.
The development team has also assured that the update will push the boundaries of the token’s capabilities and that the minting policies will be improved as well. The enhancement is supposed to greatly benefit NFTs, which are usually time-locked.
Should the test be successful, the Alonzo hard fork will take place within ten days, leading Cardano to new horizons in terms of both functionality and user experience. Seems like a spike of interest in the coin is likely to follow the update.
I believe in the bright future of crypto. I have been investing since 2017 and look to share my experience in, and thoughts on, crypto and the blockchain.