Cardano recently announced the launch of Aiken, a smart contract language and toolchain whose primary goal is to facilitate the simplification and enhancement of the smart contract process for fair use on the blockchain. Within minutes of the news, the price of Cardano (ADA) witnessed a significant increase as it posted gains of 0.56% at the time of writing.
Aiken to simplify smart contracts
Aiken’s primary goal is to simplify the use of the Haskell Plutus platform, which is considered cumbersome and challenging to use with other off-chain code languages since developers are not working with their usual tools and languages.
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Aiken uses IOG’s research on Plutus. In turn, it is compatible with other systems, emphasizing on-chain code and making it easier to integrate with any off-chain infrastructure stack. According to the announcement, the Aiken team will conduct additional audits to ensure the tool meets the requirements expected of an enterprise-grade toolkit. In addition, it will focus on early developers and the input they provide to shape Aiken before its release on the mainnet.
Cardano (ADA) Price Reaction
In light of this information, both the ADA community and the larger cryptocurrency market have reacted positively to the announcement. market participants believe that this may ultimately result in a bullish scenario for the ADA token as it sees impending utility.
As things stand, the price of ADA is trading hands at $0.43, representing a gain of 5.11% over the past 24 hours as opposed to a 9.06% increase seen over the past seven days. registered.
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Pratik has been a crypto evangelist since 2016 and has experienced almost everything crypto has to offer. Be it the ICO boom, the bear markets of 2018, Bitcoin’s halving so far – he’s seen it all.
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication is not responsible for your personal financial loss.
This post Will this latest development push the price of Cardano (ADA) above $1?
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