Advertisement
AD

Main navigation

Cardano Creator Proposes New Term for Smart Contracts

Advertisement
Sun, 19/09/2021 - 9:10
A
A
A
Cardano Creator Proposes New Term for Smart Contracts
Cover image via www.youtube.com
Read U.TODAY on
Google News

IOG CEO Charles Hoskinson recently tweeted that the term “smart contract” is actually a misnomer when it comes to Cardano.

Instead, he suggests that the community has to refer to the new functionality as “programmable validators.”

The semantical inaccuracy was initially noted by IOG developer Matthias Benkort. In his thread, he claims that Cardano’s programmability is drastically different from competing blockchains of the likes of Ethereum and Solana because of its eUTXO transaction model. Hence, smart contracts cannot be actually deployed on Cardano:

Advertisement

Unlike Ethereum, Solana, Algorand and al, there's no such thing as "deploying" a smart-contract on Cardano. Instead, validators are implicitly referred to by hashes prior to their use, and they are disclosed upon activation.

Benkort further explains that the community tends to mix up validators and smart contracts.
 
Yet, he acknowledges that adopting other terms, such as “on-chain validators,” will be challenging from a marketing perspective:        

In the end, "smart contracts" feels like an imprecise term. Rather, I'd prefer more specific terms such as "on-chain validators" and "off-chain code". I reckon this is a hard one for marketing though.

Advertisement

Related

Cardano rolled out the much-awaited Alonzo hard fork on Sept. 12 after stirring up controversy with its concurrency issue. 100 smart contracts were deployed on the network within just 24 hours.

Even though Cardano is late to the decentralized finance party, with Ethereum reigning supreme in the sector so far, Hoskinson has long been dismissive of the first-mover advantage in DeFi.

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

A
A
A

Related articles

Advertisement
TopCryptoNewsinYourMailboxSubscribe
TopCryptoNewsinYourMailboxSubscribe
Advertisement
Advertisement
Subscribe to daily newsletter

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD