The right moment has come to dive deeply into Cardano's (ADA) smart contracts
, the largest proof of stake blockchain, will be empowered with smart contracts functionality on Sept. 12, 2021. As we are three weeks away from this crucial milestone, the moment has come to take a deep dive into what is going to change for Cardano and the entire worldwide blockchain community.In short, like the ETH1-ETH2 merge or EIP-1559 implementation for Ethereum, the smart contract launch is a once-in-a-lifetime event for Cardano that can change its status in the blockchain world for good.
Smart contracts are attractive for legal and financial operations due to their trustless nature and the opportunity to avoid enforcement costs and fraud losses. But the authors of Cardano smart contracts will not be required to write something in Plutus Core. There is a Haskell compiler plugin that creates Plutus Core programs. In turn, these scripts are executed by nodes while transaction validation is live on the blockchain. Then, the scripts lock UTXOs as either validator scripts or minting policies, controlling the process of minting and burning tokens.
Namely, a first-ever DeFi ecosystem Occam.Fi is going to bring all mainstream DeFi functions to the Cardano ecosystem. Its inaugural releases will include a launchpad for initial exchange offerings, a decentralized cryptocurrency exchange module , a decentralized autonomous governance toolkit and other DeFi-specific functions.Cardano already has a pioneering marketplace for non-fungible tokens , THEOS. THEOS is incubated by the team behind Occam.Fi, the Occelerator.
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