Cardano Hints On Smart Contracts With Business Use Cases

The Dechained had earlier reported that Cardano was a crypto project to watch out for. They’ve never left anyone in doubt about their intentions to do big stuff. They want to be a distributed ledger firm that innovators and change makers could leverage on.  IOHK, the brains behind Cardano, has hinted on how the business use cases of Alonzo would enable smart contracts to become a reality is in its final stages.

Road to Alonzo

Last year, they completed Allegra which enabled metadata functions and token locking. This March, they had Mary which enabled users to create tokens that are defined by users. The final piece of the puzzle with Alonzo, have been quite tricky.

Two weeks ago, Charles Hoskinson, the CEO of IOHK posted a video in which he spoke about what the users should look forward to and when. While some members of their community felt disappointed about the tentative launch date, the priority is on getting it right from the start.

The Alonzo protocol is been integrated into the ledger code and the Cardano node at the moment. As soon as this is completed, the private testnet will go live in mid-April to early May. This will be followed by a series of stress tests by the Plutus pioneers.  May through June has been scheduled for user testing and QA. Partners and exchanges would use the month of July to bring themselves up to speed. Thus, the launch date for highly anticipated Alonzo is sometime in August.

Cardanos’ Global Vision

Peyton Jones, the Lead Software Engineer speaking on the wide range of enterprise applications said that Alonzo offers a broad platform for create smart contracts that would be able to work with auctions, collectibles and crowdfunding. Other possibilities he spoke about include building of complex apps that supports centralized stablecoins, development of decentralized crypto exchanges (DEX) that are escrow-based and product verification applications in supple chain.

Probably with Alonzo, the biggest game changer would be the coming of DeFi to Cardano. OccamRazer, the self-styled decentralized fundraising suite of app is set to come to Cardano.

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