Cardano News Today – September 21, 2019

Cardano
  • Will Cardano’s New Smart Contracts Initiate a Stampede of Interest?
  • Hoskinson: Plutus Was Developed with an Onus on Precision and Mathematics

No less than 500 developers are coming to the University of Wyoming today, September 21 to get first hand knowledge of working with Plutus. Plutus is the newest version of the Cardano simple smart contract. The product is scheduled for launch today. Plutus and Cardano are developed by IOHK. IOHK’s CEO, Charles Hoskinson is hoping that there will be a stampede of iteration, and innovation, by some of the industry’s best minds. This is why today’s event is named the Wyoming Blockchain Stampede.

Cardano Has an Ambitious Road Map

Cardano is known to have an ambitious roadmap. The network’s team have opted to implement a research-driven approach to reach their goals. The team is creating a smart contract platform that will boost more advanced properties than any protocol currently in existence. The Cardano Blockchain uses the proof-of-stake model, for energy saving and to help it stay scalable. Hoskinson, IOHK’s CEO and co-founder of the Ethereum Blockchain, has assembled a team consisting of engineers and researchers from the world’s finest universities to work on the project.

Hoskinson Has Defended the Shelley Upgrade

Cardano has been slow in its development, especially in transitioning into “the Shelley era.” The Shelley upgrade will bring the proof-of-stake to Cardano, and make it completely decentralized. However, the amount of time the project has taken to launch since its inception is four-and-a-half years. This has drawn plenty of criticism to the network.

Cardano (ADA) Price Today – ADA / USD

NamePrice
cardano
Cardano
$0.039-4.69%

Hoskinson has defended the Shelley project claiming that it takes time to develop a secure and efficient network destined to last for over 100 years. He blamed their lack of progress to constrained development realities, writing plenty of code, and massive community participation.

Hoskinson said Plutus is designed based on a scripting language developed for smart contracts by IOHK, to handle cash flow, assets and identity on the Blockchain.

Hoskinson: Plutus Was Developed with an Onus on Precision and Mathematics

According to Hoskinson the goal is to ensure that the Blockchain is more decentralized before brink in Plutus and smart contracts into the system. He claims that the next big development, is the launch of Cardano’s next testnet, by September 28, a date that coincides with Cardano’s second anniversary since its official launch.

In November or December, Cardano will launch another key testnet, and the proof-of-stake consensus will be enabled. People will be able to startup businesses, or stake pools. Cardano will be more decentralized.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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