The Goguen era that will welcome smart contracts on Cardano has been dated. So, the community is already preparing for the much-awaited development that is expected to boost the competitiveness of Cardano among its rivals in the blockchain industry.
Nft-maker.io Launched in Preparation for Smart Contracts on Cardano
A user, u/Padierfind, has some hours ago taken to the Cardano subreddit to announce the launch of Nft-maker.io, a platform he described as the easiest way to mint non-fungible tokens (NFTs) on the Cardano blockchain.
Although any minted NFT on the platform cannot be verified as yet, due to the fact that smart contracts functionality has not been implemented on Cardano. According to the user, the platform will switch to a decentralized model once Cardano launches smart contracts.
When to Expect Smart Contracts on Cardano Blockchain
According to the countdown released a couple of days ago, Cardano’s journey to the Goguen era starts in 5 days’ time.
Similarly, the Alonzo hard fork combinator (Goguen) that is expected to bring full smart contract functionality, Haskell, formally verified decentralized autonomous organizations (DAOs), and ERC-20 importers to the Cardano mainnet, will be implemented in 110 days’ time.
What Smart Contract Means to Cardano Blockchain
According to Olga Hryniuk of IOG in an article titled “Smart contracts – here we come”, smart contracts mark the next phase in Cardano’s evolution as a worldwide distributed ledger.
Hryniuk wrote, “When supporting everyday business, a blockchain must guarantee that individuals can move their funds and pay for products in a secure way.”
She explained further that smart contracts can be used to settle complex deals, hold funds in escrow, secure the movement of funds under predesigned conditions.
In this regard, Cardano will allow decentralized applications (DApps) to interact with the ledger to record their activities and execute smart contracts.
According to Hryniuk, these digital agreements express the story of a transaction, specify the destination of funds and under what conditions they will be sent, and executing a deal only when all the conditions are met. The foundation for Cardano to support such applications will be laid by Alonzo, Hryniuk said.
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