- Romain Pellerin, shares his views about the new smart contract integration era.
- The Goguen era has started to support native tokens and NFTs.
- Cardano chose to develop a robust platform.
In a recent interview with Romain Pellerin, CTO at IOHK, shares his views about the company’s new smart contract integration era. Also, other interesting things that happen around with Cardano (ADA).
Cardano CTO’s Response on Exclusive Interview
Cardano CTO answered many questions raised by the interviewer. Firstly, the CTO is asked about the new smart contract era. The CTO responded that the Goguen era has started to support native tokens and NFTs. However, the platform already had two hard forks, Allegra and Mary.
Hard Fork Combinator
Cardano has implemented the hard fork Combinator, which allows for the activation of crucial updates without painful and risky chain splits. When the interviewer asked ‘what prevents other chains from doing something like that, from implementing the same mechanisms?’. CTO replied that others should do what they did with the hard fork Combinator.
The hard fork is identified by seeing dynamically at events in the system. However, rather than deciding that users need to move to another version of the software at a specific block, it needs to be done when all agree that a new era will start.
Cardano’s Next Step
Catalyst program which is the funding technique governance related to the treasury. More so, it runs community-based projects that bring new developers and new initiatives to Cardano. In addition, there is the decentralized mechanism happening. The platform has decentralized block production, network topology, and the governance of the chain itself.
The platform also works on Hydra, a technology of state channels. However, this will help enterprises to transact at high speed. Cardano could open a state channel, transact between the two and settle frequently, maybe for each 10 minutes or every day or every week, on-chain. More so, Hydra works towards scalability. All-in-all, Cardano consists of smart contracts, decentralized governance and more decentralization of the network itself, as well as scalability improvements through state channels.
DeFi Project That Is Ready To Use Cardano Smart Contracts Right Now
Cardano is currently running the Plutus Pioneer Program. However, the platform consists of over 2,000 developers participating in it. More so, it is a way to learn smart contract language, Plutus, and DApp development that include DeFi applications. Notably, the Liqwid Finance has been financed by Catalyst, our decentralized funding program.
Moreover, this is the first announced DeFi app. He is also very sure that DeFi applications from other chains will also work on Cardano because we have a large community of users. Businesses naturally desire to raise their audience and gain customers. Even more, he adds that he won’t be surprised to see a DeFi app like SushiSwap or PancakeSwap decids to release a version of its app on Cardano.
Creates a Robust Platform
Cardano chose to develop a robust platform that is the main difference between Cardano and other chains. However, the platform did many years of research. The platform uses formal methods to prove that the algorithms and protocols we introduce on Cardano are correct and verified. After the specifications are proven the Cardano platform goes for implementation. The main focus of the platform is on the robustness and quality of the network.
Moreover, users can run their apps on a robust platform, which is secure to use. In the future, they are planning to release some tools such as a way to verify the smart contracts. Moreover, if users want to create their smart contracts the proper way, they need to check if there is anything wrong with it. In case, if users miss when they write their financial application. However, there are many languages that could be used by people, that includes Marlowe and Glow, which is implemented on Plutus and will leverage Plutus on-chain.
All-in-all, users don’t see crypto as a speculative machine. They look at cryptos because they have the potential to change tomorrow’s world, to decentralize services. More so, they look at blockchain as a disruptive technology. Otherwise, the technology of tomorrow will remove intermediaries, lower the cost of transacting globally and offer a chance to anyone on the planet. More so, the CTO doesn’t look at crypto as a speculative instrument.
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