- Blockchain R&D company IOHK has announced Plutus and Marlowe software tools for smart contract creation on Cardano blockchain
- The announcement happened during the first PlutusFest in Edinburgh, Scotland
- The more advanced tool of the two, Plutus, requires the knowledge of just one programming language for smart contract creation, making it first of its kind
Today during the PlutusFest event held in Edinburgh, Scotland, two tools for writing smart contracts for the Cardano blockchain were announced by IOHK, a successful blockchain research and development company founded in 2015. The tools, called Plutus and Marlowe, launched in test format at the public event, which was attended by academics, business professionals, developers and others. The main aim of the tool is to help start-ups, the financial services and fintech industries in preparing smart contracts that will be powered by Cardano.
Two powerful tools
An all-around programming language and tools for Cardano are provided by the more complicated of these two tools, Plutus. IOHK has combined the Haskell functional language with Cardano, creating a platform for fintech developers to write secure and robust smart contracts. The company has also provided an exploratory development and testing environment for Plutus contracts. The environment is based on a blockchain emulator, called Plutus Playground. These contracts are ready to be used on the blockchain itself.
Marlowe, on the other hand, is targeted at people not familiar with programming, allowing users to generate code and create software products the easy way. This software product with intuitive interface allows professionals in the finance industry with no programming skills to build automated financial contracts on the blockchain. It also has its own web-based testbed called Meadow.
IOHK CEO Charles Hoskinson confessed that the team is really excited to release testbeds of Plutus and Marlowe, allowing developers, finance professionals and academics test how they can use smart contracts on Cardano, calling both technologies a step forward for the whole blockchain industry. He said:
“They have been rigorously designed by a team of leading experts in programming language design, with the aim of reducing the kinds of software bugs that have led to huge losses totalling hundreds of millions of dollars.”
Keeping it simple
According to Philip Wadler, the area leader for programming languages at IOHK, the reason why the company is unique is its commitment to using peer-reviewed research in development of its products, the company being one of the few supporting efficient and reliable development by utilising Haskell language. Plutus uses this ideology, being the only system that provides a single integrated Haskell-based language for both on-chain and off-chain code, which differentiates it from its competitors, such as Ethereum. Philip Wadler said:
“Its core language for on-chain code has been kept extremely simple to make it future-proof and so it supports verification.”