Cardano Developing A Project to Gain Stronger Presence in Financial Industry - Cardano News, ADA Price Chart. Wednesday, August 22
Important Cardano Cryptocurrency News
Cardano Developing A Project to Gain Stronger Presence in Financial Industry
The Cardano Marlowe, a domain specific language was recently unveiled by the Cardano team as a project in development that will find application in finance, especially where escrow services are needed.
The project will have the ability to execute financial contracts in the mode of Payton Jones. It has been modeled after the Haskell but from an algebraic dimension with the ability to execute small-scale semantics.
Marlowe will disrupt the financial industry according to the Cardano team stating that banks will able to launch smart contracts taking cognizance of where escrow is demanded by parties.
The IOHK team of developers in a paper presented on Marlowe said that the language can easily be embedded on another for ease of writing smart contracts. However, it is incumbent on users to know how contract will behave on blockchain to derive maximum benefit from Marlowe.
Cardano Team Develops Meadow to Run Marlowe
It essentially simulates the behavior o-chain stepping through the evaluation by evaluating a contract in a browser.
Cardano Down by 4.35 Percent
Most altcoins have recently followed the general trend of Ether, XRP and EOS and this week has again shown a bearish sentiment. Cardano ADA is currently trading at $0.093 down 4.35 percent against the USD and down by 4.04 percent against Bitcoin which has been trading within a tight range in the past 48 hours.
ADA made an earlier upward movement that reached the $0.1 mark against the USD breaking a resistance of $0.0980 on the hourly chart.
ADA/USD Price Chart, Wednesday August 22nd:
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