Cardano (ADA), an open-source blockchain technology with its native token ADA referenced as the only “scientific philosophy and research-driven approach,” will be two years old by September 2019, yet it is among the most sophisticated blockchain network in the industry, all thanks to its qualitative buildup from the scratch.
Cardano began its existence on the Byron foundation era, known as the ‘first crucial technology developments.’ However, Cardano blockchain team has made efforts to upgrade the network with a testnet launch of Shelley era on June 19.
The Shelley era is an upgrade of the Byron era, and it leverages Ouroboros Genesis instead of Ouroboros Classic used by the latter.
While testnet launch is already giving users of the blockchain project glimpses of what the network would be like after the mainnet, some inquisitive stalwarts are already yearning for the next upgrade – Goguen era.
Cardano (ADA) Goguen Era, an Upgrade of the Shelley Era
The Shelley era is designed to optimize decentralization on Cardano network as well as augment security. By the end of the Shelley era, Cardano hopes to be 50 to 100 times more decentralized than other blockchain projects.
However, the Goguen era represents the incorporation of smart contracts to enhance the capability of the blockchain network. Ahead of mere decentralization, Goguen allows the ability to develop decentralized applications (DApps) on Cardano network which offers peer-reviewed research and high-assurance development.
Goguen era will birth the creation of a purpose-built smart contract development language, Plutus, which uses Haskell functional programming language. Plutus is designed to help improve the coherency and usability of Cardano network by allowing one codebase to support on & off-chain components.
Marlowe is yet another development in the Goguen era. It is a high-level, domain-specific language (DSL) built on Plutus for financial contracts. Marlowe, an easy-to-use application-building platform, makes Cardano accessible to wider audiences by allowing financial and business experts to create smart contracts on the network with no need for any previous technical knowledge.
Amalgamating Plutus and Marlowe will make Cardano offer top-notch enterprise-level smart contracts talented to underpin large scale implementations in the real world.
Other added advantages include the ability to create fungible and non-fungible tokens, which supports the developing new cryptocurrencies on Cardano. Goguen makes Cardano have the ability to tokenize different types of digital and physical assets.