According according to Cardano blockchain, the Cardano’s new Alonzo Hard Fork gained traction immediately after it was released in the mainnet. It was announced that the Alonzo update was made available and rolled out on the mainnet on 13th September 2021. Smart contracts are now able to be created and implemented on the mainnet as result of this update.
Alonzo gives Cardano that supports smart contracts. It also increases its capabilities by integrating Plutus scripts. Plutus scripts, written in basic functional language like Solidity and Haskell and by allowing users to add the scripts.
With such a positive new update on smart contracts using Cardano We must be aware about the development of smart contracts using Cardano. Cardano platform. First we must understand the fundamental definition of smart contracts.

What are Smart Contracts?

Smart contracts have been pre-programmed automated digital agreements. They execute themselves and are not able to be changed. They are not influenced by the involvement of a middleman, or any third party.
Smart contracts can be divided into two types:
In one instance it is possible to introduce the value concept of one actor (or group of actors) towards another person (or an entire set of players). It must be a representation of the value and the rules and conditions that apply to it, and an event that activates it. This is known as a financial contract and is best done with a specific domain language.
In another scenario, you’ll need to design a program or application. The application is composed of a triangular structure:

• The client program is running on the computer.
• The server is the one that runs on the server of someone else (or many servers).
• A smart contract can be described as the piece of the code that allows decentralized operations to be conducted.

What programming languages do Cardano utilize to develop smart contracts?

There are three languages that are suitable to develop smart contracts on Cardano as described below

Marlowe

Marlowe is a domain specific programming language (DSL) which allows users to develop blockchain-based applications that are specifically designed for financial transactions. If compared with a Turing-complete language it is a different language. Marlowe DSL can be described as:

• Better Security
• Assured Certainty
• Guarantee of Termination
• More reliable guarantee of rightness of actions

The following aspects are made certain by the style of Marlowe:

• Contracts have a predetermined durationand no looping, recursion or looping
• Contracts will be brought to an end and any actions are subject to the timeout
• Contracts are governed by a specific duration of time before they can be valid
• When the closing occurs the company, there are no assets left
• Preserving value

Plutus

Plutus is Cardano blockchain’s smart-contract platform. It allows the development of applications that connect to the Cardano blockchain. Plutus allows all programming to be performed in Haskell with one library. It allows the creation of safe applications, as well as new asset acquisition, and create smart contracts with the best stable secure, reliable environment. Developers are not obliged to run their projects on a full Cardano node. It is possible to do this using Plutus:

• Create new tokens in a small environment
• Construct smart contracts
• Support for scripts with simple signatures

Haskell

Haskell is the primary language of Plutus. This is the programming language utilized by Cardano for Smart Contract creation. Haskell also governs Marlowe which is a domain-specific language that is used for the creation of the financial smart contracts of Cardano. Even though it has a low rank on Google, Haskell is the first option for Cardano in the process of developing the programming language. Why does Cardano do so?
Let’s look at the ethos of Cardano that lies behind the decision to choose Haskell initially. The most basic reason for it is Haskell is able and has the capability to write code that are strong. Haskell was named after the name of an famous American mathematician, who was known in the field of mathematics as Haskell Curry. Curry had his origins in the area of functional programming language, like for example, Miranda. His fascination with functional programming languages was the basis for the creation of Haskell in the year 1990.
Haskell is therefore functional programming language that is able to create high-assurance codes which require a high level of verification of a formal nature. Because Haskell offers a higher level of confidence, this aids the Cardano developers to ensure that the code implemented is reliable and accurate.

What is it that makes the Cardano blockchain different in comparison to other blockchains?

Cardano has been designed in order to become scalable, long-lasting and interoperable with other blockchains and architectures.
When compared with other blockchain-related protocols, Cardano is distinct in many ways. For instance, Cardano protocol development is founded on peer-reviewed research. high-assurance codes are used at the most advanced levels of engineering as well as the protocols are designed with Haskell as functional language.
Cardano smart contracts have to have been written using Plutus as well as IELE. which is designed to offer a greater assurance. Plutus is an intelligent contracting language that is written using Haskell. Haskell is well-known by developers and academics for its blend of professional and academic knowledge with basic computer science skills and programming. So, creating smart contracts using the Cardano platform is more secure and secure than creating smart contracts using any other smart contracting language. Plutus Platform is based on the Haskell framework which serves as a toolkit accessible to developers to build smart contracts. It will also allow both on-chain and off-chain codes. The smart contract code used by Cardano is tested, safe, and documented through peer review and high-assurance. Additionally, this research-first method that is carried out by a properly certified team of academics and experts in cryptography differentiates Cardano as well as Cardano smart contract from rivals.
Cardano’s strength in the future lies in its ability to function as a legally binding and reliable entity that can transfer shareholder assets. The stakeholder assets of the shareholders are required for contracting parties to take part. The assets of the contract will be transferred according to the rules set by the parties, and incorporated to the agreement. But, the money committed to the smart contract will not ever be “frozen” indefinitely. The authors can set an expiration date to ensure the money is paid back after an agreed upon period of time.
A smart contract that is created and programmed with Plutus and based on the Cardano blockchain gives complete transparency to all parties participating with the transaction. If it is designed correctly the contract is secure and a single actor is unable to engage.

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