Ready for Goguen era! INET now supports smart contracts!!

We’re a little early 🙂

Today, shortly after Epoch 288 started, [INET] Inettrix pool updated all our Cardano relay and core block producing nodes to v1.29.0. This update enables our stake pool infrastructure to run Cardano’s next generation smart contract functionally!

What you’re seeing here is snapshot of our core block producing node,
confirming we’re ready to rumble!

Goguen is the name for a new version of the Cardano network which introduces smart contracts. This will allow developers to create decentralised applications on top of the Cardano blockchain.

Goguen is a reference to Joseph Goguen who was a visionary computer scientist most noted in the fields of algebra and logic.

A smart contract is simply a program that is stored on a blockchain, which will execute when certain conditions are met. This enables trusted transactions and agreements among disparate, anonymous parties without the need for a central authority. The code itself is replicated across multiple nodes hosting the blockchain and therefore, benefits from the security, permanence and immutability that a blockchain offers.

The demarcation event which kicks off the Goguen era is called the the Alonzo hard fork, and is scheduled for Sunday 12th September, 2021.

Alonzo is a reference to mathematician Alonzo Church who was one of the forefathers of computer science. 

In practical terms, this will lead to the creation of fungible and non-fungible tokens (NFTs) that represent digital and physical assets. Great ready Ethereum, you’ll soon have a new competitor (with manageable transaction fees?)!

What decentralised applications are you looking forward to seeing on the Cardano ecosystem?

Author: Jonathan Z

Cardano ecosystem snapshot @ August 2021, what will this look like one year from now?

  • What is a Cardano Epoch?

  • What is a Cardano node?

  • Cardano node 1.29.0 release notes:

  • What is the Goguen era?

  • Cardano era roadmap:

  • What is a decentralised application?

  • What is a Smart contract?

  • What is a blockchain?

  • What is the Alonzo hard fork?

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