Cardano has released more details about the “Plutus” update.

Plutus is the original programming language that will be used to write smart contracts in Cardano after Alonzo’s next major upgrade.

in Blog New published on April 13, IOHK – the company behind Cardano – clarifies that Plutus contracts are made up of off-chain and on-chain parts.

IOHK added that both parts are actually written in the Haskell programming language but are compiled by Plutus, which provides a framework for smart contracts on Cardano.

Cardano takes inspiration from Bitcoin:

Just like Bitcoin, Cardano uses a “UTXO” (Unspent Transaction Output) model where the inputs are the unspent outputs of previous transactions.

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However, the network has expanded on this basis to employ an improved UTXO (EUTXO) model which offers unique advantages over other models.

Without getting too deep into its technical details, the EUTXO model essentially allows off-chain transactions to be validated before the transaction is sent to the blockchain.

This is in contrast to the Ethereum blockchain which processes all transactions on the chain.

The costs of executing off-chain transactions can also be determined prior to dispatch which is another unique feature.

Plutus Core will be used to parameterize EUTXO transactions and aggregate them with code developed for smart contracts.

The Plutus Application Framework (PAF) will provide easy access to services and applications running on the network with full web browser interoperability.

Project Cardano launched the “Mary” upgrade in February to allow users to create custom, uniquely defined tokens and perform transactions with them.

The “Plutus” update will expand the capabilities of existing tokens, significantly improving mintage policies that will be useful for NFT tokens that may need time locks.

Determining the date of the highly anticipated “Alonzo” upgrade:

Plutus is part of the Alonzo upgrade, a major phase and upgrade in Cardano’s roadmap. This upgrade introduces the ability to create smart contracts and the ability to create dapps.

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In a previous blog post, the team hinted at a specific timeline for the upcoming upgrade:

May and June will be a time for quality assurance and testing with users, which will be followed by a four-week feature freeze.

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This period of time will allow exchanges and crypto wallets to upgrade and prepare for the Alonzo protocol update.

We expect the Alonzo (hard fork) to be upgraded in late summer.

At the time of writing this article, the digital currency “ADA” is trading down 2.3% in the last 24 hours, as the price of the coin is currently estimated at $1.46 at the time of preparing this article.coinmarketcap“.

The digital currency “ADA” reached an all-time high of $1.53 on Wednesday, April 14.

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