Plutus scripts are more powerful and flexible, allowing for Turing-complete smart contracts on the Cardano blockchain. They are based on the Plutus platform, which uses Haskell, a functional programming language. Plutus scripts enable more complex logic and programmability compared to native scripts.
Key Characteristics:
- Turing-Complete: Plutus scripts can execute loops, recursion, and conditional logic, enabling more complex smart contracts and decentralized applications (dApps).
- Plutus Platform: Plutus scripts are written in Plutus Core, a variant of Haskell, and are executed within Cardano’s extended UTxO (eUTxO) model.
- On-Chain and Off-Chain Code: Plutus scripts consist of both on-chain (smart contract logic executed on the blockchain) and off-chain (code that interacts with the smart contract from outside the blockchain) components.
- Complex Smart Contracts: Plutus scripts enable the creation of sophisticated smart contracts for decentralized finance (DeFi), token management, NFT issuance, and more.
- Higher Resource Consumption: Due to their complexity, Plutus scripts require more computational resources and thus may incur higher transaction fees compared to native scripts.
Use Cases:
- DeFi Applications: Plutus scripts can be used to develop decentralized lending platforms, automated market makers (AMMs), and other complex financial services.
- Decentralized Applications (dApps): Plutus scripts support the creation of decentralized applications that require advanced logic.
- NFT Marketplaces: The flexibility of Plutus scripts enables the creation of smart contracts for issuing, trading, and managing non-fungible tokens (NFTs).
Example Use Case:
A Plutus script could define a decentralized lending platform where users can lock assets in smart contracts, borrow against them, and automatically liquidate positions based on preset conditions.
Real-world Example: Simple Plutus Time-Lock Script (Haskell)
Plutus scripts are written in Haskell (or Plutus Core) and allow for much more complex logic. Below is an example of a simple Plutus script that locks funds in a contract and only allows spending after a specified deadline (time lock).
{-# INLINABLE timeLock #-}
timeLock :: POSIXTime -> () -> ScriptContext -> Bool
timeLock deadline _ ctx =
let txInfo = scriptContextTxInfo ctx
currentTime = txInfoValidRange txInfo
in contains (from deadline) currentTime
timeLockValidator :: POSIXTime -> Validator
timeLockValidator deadline = mkValidatorScript $
$$(PlutusTx.compile [|| \d -> timeLock d ||])
`PlutusTx.applyCode`
PlutusTx.liftCode deadlineExplanation:
- POSIXTime: Represents the deadline (in UNIX time) after which the funds can be spent.
- scriptContextTxInfo ctx: Extracts the transaction context, which includes information about when the transaction is valid.
- contains (from deadline) currentTime: Ensures that the current transaction time is after the specified deadline.
- timeLockValidator: This is the smart contract itself, which checks if the transaction meets the time-lock condition.
This Plutus script allows funds to be unlocked after a specific point in time. It showcases the flexibility of Plutus scripts by using Turing-complete logic, enabling the implementation of more advanced features such as smart contracts, loops, and complex conditions.
Conclusion
- Native scripts are ideal for simpler tasks like multi-signature transactions and time-locked transactions. They are efficient, but limited in terms of functionality.
- Plutus scripts offer full programmability and are designed for more complex decentralized applications, enabling a wide range of smart contract functionalities on Cardano.
Both Native and Plutus scripts serve essential roles within Cardano’s ecosystem, with native scripts providing straightforward, low-cost solutions, while Plutus scripts enable more sophisticated decentralized applications and smart contracts.
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