- IOHK launches two smart contracts tools on Cardano blockchain.
- Cardano breaks out of the descending channel to trade sideways.
The blockchain research firm in charge of Cardano (ADA) development IOHK was today excited to announced the launch of a couple of smart contracts writing tools. The tools have been designed to specifically work with the Cardano blockchain. The tools referred to as Plutus and Marlowe are currently in their test phase.
IOHK has been working on the tools to give startups, fintech companies, financial service providers and academia the ability to develop smart contracts on the Cardano network.
Plutus is a tool that was designed to provide a programming language framework. The tool has been made using a combination of Haskell functional language with Cardano. The platform is robust in nature and is up to the task when it comes the smart contract's requirements of the above-mentioned groups.
On the other hand, Marlowe is a non-programmer tool that can be used to generate code as well as develop software products. Even those people with no programming background can use this tool to create contracts that function on the blockchain. The CEO of IOHK, Charles Hoskinson said during the language:
“We’re really excited to release testbeds of Plutus and Marlowe so developers, finance professionals, and academics can test how they can use smart contracts on Cardano. Both technologies are a major step forward for the blockchain industry. They have been rigorously designed by a team of leading experts in programming language design, with the aim of reducing the kinds of software bugs that have led to huge losses totaling hundreds of millions of dollars.”
Cardano is trading at $0.029 following the rejection at $0.032. Recently the digital asset broke out of the descending trendline paving the for the upside move that ran into resistance at $0.032. Cardano is currently showing great resilience and avoiding a drop to the recent lows at $0.0276. The prevailing sideways trend is likely to change direction upwards in the short term since the stochastic is heading north from the oversold regions.
ADA/USD 1-hour chart
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