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Cardano Devs IOHK Confirm Launch of First-Ever Plutus Smart Contract

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Fri, 06/11/2021 - 20:21
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Vladislav Sopov
Input Output HK devs shared an update on what is going on in Cardano (ADA) testnet Alonzo
Cardano Devs IOHK Confirm Launch of First-Ever Plutus Smart Contract
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Representatives of the Input Output HK team, behind the development of Cardano (ADA) blockchain solutions, are celebrating an ambitious milestone.

Programmable Cardano (ADA) says 'hello world'

According to the latest mid-June development update by IOHK's marketing director Tim Harrison, head of delivery Nigel Hemsley, and delivery lead Dimitris Poulopoulos, the first smart contracts of Cardano's testnet Alonzo are up and running.

"The first simple Plutus smart contract has this week been successfully run on the AlonzoBlue Cardano testnet" - learn more in June's mid-month development update https://t.co/3WEQi9hqCX

— IOHK Media (@IOHKMedia) June 11, 2021

Smart contracts are written in Plutus, a Cardano-specific programming language. Now, the testing of the contracts will undergo AlonzoBlue phase, the first stage of Alonzo testnet.

AlonzoBlue transactions are validated by a limited squad of staking pool operators and early Cardano (ADA) enthusiasts ('pioneers'). 

Experiments are supported by a number of external teams. For the next phase of testing, AlonzoWhite is expected to start in July with 500 testers on board.

First use-cases of Cardano's (ADA) smart contracts

Developers also unveiled what the first use-cases Cardano (ADA) smart contracts are tailored for. Even in its nascent stage, Cardano's (ADA) programmatic environment addresses a variety of decentralized finances segments.

Namely, they work with decentralized data oracles, decentralized digital assets exchanges (DEXs), liquidity and staking pools, lending/borrowing tools, and crypto-backed stablecoins.

Moreover, Cardano (ADA) contracts are able to host non-fungible tokens (NFTs).

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)