IOHK had designed the newest Marlowe suites to enable the support of smart contracts on the cardano network.
Following the massive crypto dumb from the previous week that had wiped away coin prices up to 50%, Cardano was not left out in the bloodbath. It had experienced its significant dump, and this had called for new reformations. This is in the form of a new Blockchain upgrade that would enable the cardano network to return to its former glory and beyond.
Major Updates
- Cardano to opt for a network upgrade.
- The Marlowe Upgrade will support smart contracts on Cardano's blockchain.
- NFTs, Gaming, etc., will be accessible via the new upgrade.
- The Cardano’s Alonzo project will debut in June till September.
Still, in his recovery phase from the significant crypto bloodbath when the token had dumped massively, the creators of the crypto, the IOHK team, have announced the release of something new. Something that would extend the capacities of Cardano blockchain in modern decentralized financing.
Cardano has just announced a new series of upgrades that the IOHK team has designed. The blockchain provider had announced that the launch would equip the Cardano Network with the adaptations to suit the ever-evolving scene of Decentralized Finance.
The new project upgrade will be called Marlowe suites. It is designed to facilitate P2P financial interactions by allowing the development of smart contracts.
https://miro.medium.com/max/1400/0*K0W2oU5a4Q12ljcL
The Marlowe suites developments kicked off last year, and now the team is ready to launch this new technology on the Cardano network. It will operate side-by-side with the Goguen upgrade.
For the future is the Alonzo project, which is currently in its developmental stages. Its gradual release will kick off in June. Stage by stage, it will be released with each stage bearing color code names. The release will be carried out monthly every month until its completion in September this year.
The Alonzo project has been in development since the Shelley project. A period of major achievements for the Cardano blockchain; It was when the network had switched over to the proof-of-stake consensus algorithm.
Conclusion
This new Marlowe suite will potentially enable new advancements to be utilized on the Cardano blockchain. This includes the latest trend in digital development, NFTs, Gaming, tracking conditioning, etc.
Question of the Day
What do you think about Cardano’s new upgrade?
