Author: Aniedi Utah
Charles Hoskinson CEO and founder of Cardano blockchain and Input Output Global (IOG) has shared an exciting milestone for the peer-reviewed blockchain. According to a post on X, Plutus V3 will introduce smart contract portability between Ethereum and Cardano.
(Dapp Central - Cardano Is Ready to SURGE! Massive Plutus v3 Improvements Are Here!)
Smart Contracts Porting From Ethereum to Cardano Coming With Plutus V3
Unlocking New Possibilities
Cardano has remained big on keeping promises and founder Charles Hoskinson seems to be letting in die-hard supporters in on a little secret.
Talking on X (formerly Twitter) over the week, the former Ethereum co-founder announced that Plutus V3 is coming with massive upgrades that unlock several new potentials on the decentralized application (dApp) ecosystem on the Cardano protocol.
Smart Contracts Porting From Ethereum to Cardano Coming With Plutus V3 - His tweet was a direct quote on the post made by IOG - the development and research arm of the blockchain protocol. According to the IOG platform, Plutus V3 will introduce several new functionalities including advanced cryptographic capabilities, improved performance with sums of products as well as robust primitives. All these upgrades will tie into the corporate goal of improving dApp building and use cases on Cardano and fostering blockchain interoperability.
Providing more details in a blog post, the IOG team stated that Plutus V3 - a smart contract scripting language novel to Cardano - will improve the developer experience by improving smart contract adoption. At the end of the spectrum, Ethereum-based smart contracts will be readily portable to the Cardano ecosystem. This way, dApps native to the Ethereum blockchain can be readily transferred to Cardano in one lump sum without any additional technicalities involved.
Plutus V3 Coming With Chang Hardfork
On the Cardano blockchain, hard forks (major upgrades) are usually executed without any alteration in the network state or functionality.
Another hard fork brewing in the background is the Chang upgrade. Scheduled for early 2024, Hoskinson has termed it as a transformative shift in the growth trajectory of the Cardano protocol. This is because it will be launched alongside the Plutus V3 scripts.
Plutus V3 is significant due to what it brings to the table. For one, it will usher in the Zero-knowledge proofs (ZKP) era which will allow Web3 developers to build privacy-centric solutions on the blockchain. It will also create a suitable environment for blockchain interoperability directly with Midnight blockchain ensuring privacy is kept at optimum level always.
At the end of the spectrum, Plutus V3 and Chang hardfork are expected to combine towards enabling a minimal viable on-chain governance model as disclosed in CIP - 1694.
What this portends is that Cardano’s ADA native cryptocurrency could be the top beneficiary of any major network upgrade. At press time, the ADA coin is trading at $0.62, up 6.54% in the last 24 hours.
Broader positive market sentiments and in-house fundamental growth trajectory are simultaneously combining to boost the price performance of the peer-reviewed blockchain asset.
תגובות