Functional smart contracts on Cardano

In this session from the recent #Cardano2020 virtual summit, three of the leading minds behind smart contracts come together to outline their work: Senior IOHK research fellow, Prof Philip Wadler, opens the conversation talking about developing robust, secure, and accessible smart contracts on Cardano using Marlowe and Plutus.

IOHK technical architect Manuel Chakravarty then outlines how the Plutus language can be used to build new assets on Cardano. Plutus is the ‘batteries included approach’ which allows all programming to be done in a single Haskell library. Using this functional programming allows users to make a safe, deterministic programming environment for smart contracts and forging tokens.
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Research lead for the Marlowe team Simon Thompson also joins us to discuss Marlowe, Cardano’s domain specific language for expressing financial contracts. Marlowe uses the language of the user rather than the language of the blockchain to create monetary agreements. With Marlowe you can:

- Analyze contracts without having to run them
- Check behavior through simulation
- Describe financial agreements on the blockchain

[bluecollarcrypto]

Already this is ahead of the game . In many many ways and I’m new I see so many opportunities with all of this!

[juliocardenas]

This inspired me to learn Haskell and join the cardano community.

[sanjeevhanda]

Awesome presentation! Thanks to IOHK team and all the researchers working behind the scene. Now we know why Cardano is called 3rd Generation Blockchain.
When there is a synergy among enterprise, open source and academia we get a masterpiece that the Cardano is, I am hopeful that this will change the world in a positive way.

[yuriykochetkov]

3:20 What we learned from Etherium
9:15 UTxOs vs Accounts
11:59 Thing about accounts
12:42 with accounts it's just whatever order things happening
13:37 What do you want to see on blockchain
14:49 Plutus core
17:15 IOHK's answer

[worldgaming]

Thankyou for the amazing presentation 🙏

[vanmichael]

This tech will allow so many new businesses and organizations to form, which will have a positive impact on global societies

[michaelmcgraw]

Very nice. I asked Charles about writing smart contracts on Cardano just the other day.

[Pepe_ETH]

Cardano all the way up! IOHK rocks thank you guys!

[DevonArtisMarketing]

I am really excited about Cardano, but I was a little confused when the first speaker stated that you have to use Javascript and Solidity and you only have to use Haskell and Haskell Tx. I did not see an example of calling a Marlowe contract from the web application that is the purpose of Javascript within the Ethereum environment. I don't truly understand the comparison ... Please create a video and talk more about how would we interact with Plutus or Marlowe contract when writing a user application.

[datajunkie]

This is super clear presentation. Thanks!

[ryanwdavies]

Amazing detail thank you the functional foundation feels solid time for me to learn Haskell!

[CC-gbdi]

I'm impresed :) Well well well done guys!!

[JoshYates]

Such a good presentation. Thank you for your time.

[spiralni]

Wow! thats why Cardano will win this race

[familyguy]

@ 6:20 how does testing come after implementation? Love Cardano and you guys obviously know what your doing just commenting from my mechanical engineering background and implementation usually comes after design and tasting?

[rogmz]

how do you go from the policy script hash to the policy script? it's easy to go the other way around but how does a node know what script to execute if all they have is the policy hash without some sort of registry?

[Shiryu]

What is the likelihood of ADA / Cardano, reaching the value of $ 10 or more ... this is the doubt of many investors. Thank you and congratulations to the video

[teggor]

Okay but how is the Plutus (non platform) code run in the browser? I think its kind of fundamental for a modern blockchain application to run basically everywhere with browser support? Will there any integration tools with websites? Maybe some standard interface to e.g. interact with browser based wallets like Yoroi?
What I also often miss, or i did not really get it, how does interaction between smart contracts happen? But maybe my mental model is wrong here, but how e.g. do I ask a Oracle smart contract for the weather state if I want to pay out a user only if the sun is shining? From that tx based model and explaination I can hardly imagine there is a smart contract ID where I can query the state as this would probably violate this TX based model. But how does it work then? :D

[mc-lbdk]

anyone any idea about the 340 million usd for european CC?

[lionardo]

I don’t understand why there are no fees associated when sending token inside the cardano blockchain? Fees are important to not incentivize users or bots to spam in the network... what am I not getting here?