IOHK shares technical briefing, explaining nitty-gritty details
gimbal and its smart contract platform, Plutus, are set to undergo significant upgrades in the June hard fork. In light of this, Cardano’s parent company, IOHK, shares a technical brief, explaining the finer details of Plutus and the interaction with smart contracts using Plutus Core scripts.
Explaining in a thread of tweets, Plutus Core is Cardano’s native smart contract language that provides a safe programming environment to create scripts with Haskell.
Plutus Core scripts enable the creation of dApps and multi-asset support on the blockchain (i.e. anyone can create their tokens). Interacting with a Plutus contract differs from interacting with an Ethereum contract because Plutus Core scripts are not chained until they are used in a transaction.
Founder Charles Hoskinson recently expressed positive expectations that the upcoming Vasil Hard Fork upgrade in June might provide a “massive performance improvement to Cardano” and its smart contract capabilities. The Vasil hard fork is scheduled for June 29 and aims to improve smart contracts capabilities and the user experience for Cardano developers, once implemented.
Interoperability on the Cardano Blockchain
As previously covered by U.Today, the AGIX ERC-20 Converter Bride, which was developed in conjunction with SingularityNET, went live this week, and it allows users to bridge Ethereum-based ERC-20 tokens to use on Cardano, with the DeFi sector of the network expected to be a significant beneficiary.
Cardano also reports another step in interoperability as Cardano-based assets can now move between chains seamlessly. Milkomeda has announced a recent update that enables the transfer of assets to Cardano from Milkomeda C1. This includes stablecoins like USDC and USDT.
In recent updates shared by IOHK, there are almost 900 projects in development on the network. The figure has risen by around 400 since March, after IOHK Vice President Tim Harrison said the total stood at around 500.
