According to the latest mid-June development update by IOHK’s marketing director Tim Harrison, head of delivery Nigel Hemsley, and delivery lead Dimitris Poulopoulos, the first smart contracts of Cardano’s testnet Alonzo are up and running.
“The first simple Plutus smart contract has this week been successfully run on the AlonzoBlue Cardano testnet” – learn more in June’s mid-month development update https://t.co/3WEQi9hqCX
— IOHK Media (@IOHKMedia) June 11, 2021
Smart contracts are written in Plutus, a Cardano-specific programming language. Now, the testing of the contracts will undergo AlonzoBlue phase, the first stage of Alonzo testnet.
AlonzoBlue transactions are validated by a limited squad of staking pool operators and early Cardano (ADA) enthusiasts (‘pioneers’).
Experiments are supported by a number of external teams. For the next phase of testing, AlonzoWhite is expected to start in July with 500 testers on board.
First use-cases of Cardano’s (ADA) smart contracts
Developers also unveiled what the first use-cases Cardano (ADA) smart contracts are tailored for. Even in its nascent stage, Cardano’s (ADA) programmatic environment addresses a variety of decentralized finances segments.
Namely, they work with decentralized data oracles, decentralized digital assets exchanges (DEXs), liquidity and staking pools, lending/borrowing tools, and crypto-backed stablecoins.
Moreover, Cardano (ADA) contracts are able to host non-fungible tokens (NFTs).