Yes, Cardano supports smart contracts. The capability for smart contracts on the Cardano blockchain was introduced with the Alonzo upgrade in September 2021. This marked a significant milestone in Cardano’s development, enabling decentralized applications (dApps) and more complex functionalities on its platform.
Key Points About Cardano Smart Contracts:
- Plutus Platform: Cardano’s smart contracts are written in a programming language called Plutus, which is based on Haskell. This language focuses on security and formal verification, aiming to reduce vulnerabilities that can occur in smart contract code.
- eUTxO Model: Cardano uses an Extended Unspent Transaction Output (eUTxO) model, which is different from the account-based models used by other blockchains like Ethereum. The eUTxO model is more predictable for transaction fees and allows for more deterministic execution of smart contracts.
- Scalability and Security: One of the primary goals of Cardano’s smart contract system is to offer high scalability, security, and low transaction costs. The Plutus programming framework allows developers to write secure contracts by leveraging formal methods.
- dApp Development: Since the introduction of smart contracts, developers have started building decentralized applications (dApps) on the Cardano network, including decentralized finance (DeFi) platforms, NFT marketplaces, and more.
Cardano’s smart contract functionality continues to evolve as part of its broader roadmap, aiming to offer a more scalable, secure, and energy-efficient alternative to other blockchain platforms.
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