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Cardano Developing A Project to Gain Stronger Presence in Financial Industry - Cardano News, ADA Price Chart. Wednesday, August 22

22 august 2018, 15:50 by Jofor Humani

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

Cardano has been finding more use cases for its applications. The recent is Marlowe for which the team has developed a web tool called Meadow. Meadow allows users gain full experience of Marlowe. It was written in Haskell and compiled to JavaScript partially by the Haste compiler.

It essentially simulates the behavior o-chain stepping through the evaluation by evaluating a contract in a browser.

ADA Price

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:

Cardano Developing A Project to Gain Stronger Presence in Financial Industry - Cardano News, ADA Price Chart. Wednesday, August 22

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