IOHK Announces Launch of Plutus Platform and Marlowe for Cardano (ADA) Smart Contracts
In a recent IOHK press release, it has been revealed that the awaited smart contracts language made specifically for the Cardano blockchain, Plutus Platform has been launched (https://iohk.io/blog/smart-contracts-language-for-cardano-launches-at-plutusfest/). So, what is the foundation of Plutus Platform. Turns out, it was created with functional language, Haskell in mind and does things slightly different.
The reason for combining languages has also been shared in the following example:
“Web applications also run in two locations, on the server and on the client. The client provides a user interface to invoke code on the server. Further, because code on the server is expensive, one wants to move as much computation off the server as possible … The links system … allows developers to write a single source, from which is generated both code for the server and code for the client.”
As for its utilization, the Plutus Platform can be accessed three ways which include, Plutus online, Plutus Playground and via Cardano.
Marlowe For Blockchain-Based Financial Contracts
In addition to the launch of the Plutus Platform, IOHK revealed the work they’ve been doing on Marlowe, which has been scheduled for launch some time mid-2019. As per the claims made, Marlowe is a domain-specific language (DSL) which was created with the aim of supporting those who are comfortable with financial contracts and not so much on coding.
The team involved trust that:
- Bad programs cannot exist because such use of language has been removed
- Required properties are met within the contracts
- Special-purpose tools can be built to support people in writing programs without a problem
As for its implementation, Marlowe is said to be found on the “settlement layer (SL) of the Cardano blockchain but could equally well be implemented on Ethereum/Solidity or other blockchain platforms.” It was also noted that a supposed “Meadow online emulator tool” allows users to test Marlowe contracts. Some of the facets of Marlowe include description of payment, ensuring that certain conditions are met and others essential in creating a financial contract.
IOHK is a tech firm with the aim of coming up with innovative, peer-to-peer systems that reflect the needs of financial services.
Founded in 2015 by duo, Charles Hoskinson and Jeremy Wood, some of key focuses in terms of tasks include building crypto and blockchain projects for schools, governments and corporations – ultimately serving as educational bridge with practical uses attached. To learn more, check out: https://iohk.io/