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Cardano’s Plutus Smart Contract Script Will Be Optimized for Better Performance, IOG Says

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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. 

 

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

 

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

 

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. 

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The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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