Cardano developers said the Vasil hard fork will optimize the Plutus smart contract script.
Following the launch of Cardano’s Plutus upgrade that introduced smart contract functionality to the network, the popular blockchain has been widely adopted by developers seeking to build numerous projects.
With the Plutus Core scripts, many decentralized applications and exchanges have gone live on the Cardano network, with more projects still building and preparing to launch.
According to Input Output Global (IOG), the organization responsible for the research and development of Cardano, over 60 decentralized applications are being built on the network via the help of Plutus Core.
More Improvements for Plutus
While the upgrade has introduced many perks to Cardano, the IOG team still thinks there is room for its improvement and this can only be made possible by enhancing Plutus’ functionality.
#Cardano & its smart contract platform, #Plutus, are set to undergo significant enhancements in June’s HF.
This series of threads on @JohnAlanWoods’s Plutus explainer will help you understand:
Plutus Core
EUTXO
CIPs & improvements
Determinism, parallelism & concurrency?⤵️ pic.twitter.com/6nDi5vQJSb
— Input Output (@InputOutputHK) April 21, 2022
The current process of using Cardano’s Plutus smart contract feature involves the sequence of writing codes, compiling it, signing a transaction with your private key, submitting the transaction on-chain, and the final execution.
Interestingly, the IOG team teased that the sequence will improve more upon the launch of the Vasil hard fork.
Based on this, the IOG team has teased that it will be adding a significant upgrade for Plutus in the upcoming Vasil Hard Fork Combinator (HFC) slated to launch on June 29, 2022.
IOG’s lead developer Sooraj noted in a recent tweet that the upgrade on Plutus will be among the most anticipated components of the Vasil Hard Fork.
“Cardano is anticipating a new wave of upgrades with the Vasil HFC event on the 29th of June 2022. Upgrades on Plutus, Cardano‘s smart contract platform (CIP) are among the most anticipated components of this HFC event,” Sooraj said.
#Cardano is anticipating a new wave of upgrades with the Vasil HFC event on the 29th of June 2022
Upgrades on Plutus- #Cardano‘s smart contract platform (CIPs)
are among the most anticipated components of this HFC event
Here’s a breakdown of each one of those upgrades:?? pic.twitter.com/bmU4U2bRkt
— Sooraj ? (@Soorajksaju2) April 18, 2022
For the IOG’s lead developer, Cardano Improvement Proposal (CIP-33) will be prioritized and will contribute significantly to Plutus Core.
Importance of Plutus Improvement
The CIP-33 protocol that will accompany the Vasil upgrade will lower transaction size and subsequently mitigate transaction costs.
“Larger transactions result in higher fees and decreased throughput. CIP-33 changes this. It is one of the updates coming with the Vasil HFC event in June 2022,” Sooraj added.
This makes the transactions bigger
Larger transactions result in higher fees and decreased throughput
CIP 33 (Cardano improvement proposal) changes this
It is one of the updates coming with the Vasil HFC event in June 2022 pic.twitter.com/8MxlTiXgRW
— Sooraj ? (@Soorajksaju2) April 18, 2022
According to Charles Hoskinson, the CEO of IOG, many decentralized application developers are waiting for the Vasil hard fork before they will deploy their projects on Cardano.
– Advertisement –
Source: https://thecryptobasic.com/2022/04/21/cardanos-plutus-smart-contract-script-will-be-optimized-for-better-performance-iog-says/?utm_source=rss&utm_medium=rss&utm_campaign=cardanos-plutus-smart-contract-script-will-be-optimized-for-better-performance-iog-says