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NewsBTC 2021-09-21 23:00:28

Cardano Founder Charles Hoskinson Says The Term Smart Contracts Needs To Be Changed

Smart contracts have been in the crypto space for quite a while now, most recently debuting on Cardano. With the rise of decentralized finance (DeFi), smart contracts have become even more important to the entire industry. This is because they are required to build the protocols on which these decentralized applications (DApps) run on. As they have grown in popularity, smart contracts platforms like Ethereum and Solana have recorded great success with them. Cardano has been working on bringing smart contracts to its network for a while and on September 12th, that dream became a reality with the final launch of the Alonzo Hard Fork Combinator (HFC). The arrival of smart contracts capability on the network was widely celebrated in the industry. But now, Founder Charles Hoskinson does not believe the term does justice to what Cardano actually does. Related Reading | Why The Hydra Layer 2 Solution Is Important To The Cardano Network The disagreement with the term smart contracts comes after a user pointed out that what Cardano does is actually very different from smart contracts. The user, @_KtorZ_, pointed out that the network deviates from what established smart contracts platforms do, referring to the network as “atypical.” Compared to most existing smart-contract platforms, Cardano takes a much different road. Recently, we've seen a lot of discussions going on about "concurrency issues" and "EUTXO vs accou...

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