Cardano is a UTXO-based blockchain, which utilizes a different... - Deepstash

Cardano is a UTXO-based blockchain, which utilizes a different programming paradigm for decentralized applications (DApps) from other account-based blockchains like Ethereum. The specific flavor Cardano uses is the Extended Unspent Transaction Output (eUTXO) model introduced by the Alonzo upgrade. eUTXO offers greater security allowing for smart contract execution cost predictability (without unpleasant surprises) and, as a result, offers a different approach to parallelization.

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MORE IDEAS FROM Concurrency and all that: Cardano smart contracts and the eUTXO model

To learn more about scalability, you can read how to design a scalable Plutus application and find out how to organize DApps on Cardano using order book patterns . Developers have also presented concurrent and deterministic approaches to the eUTXO smart contract architecture that might be regarded as a generalization of the parallel state machine steps introduced in the Hydra paper to realize multi-step state machines. A number of other developers and community members have also published papers, videos , articles , and useful threads on Twitter outlining their approaches.

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Blockchains achieve immutability and transparency of transaction processing differently. Criteria:

  • Throughput – the number of operations a system can perform within a certain time period. This relates, for example, to the number of transactions or smart contracts processed in one second.
  • Performance – how fast the system works. Performance measures the time of transaction or smart contract execution.
  • Scalability – the ability of the system to perform multiple operations without overloading the network or influencing performance properties.

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The Alonzo hard fork event will introduce the core building blocks of Plutus 1.0. This is the beginning of ecosystem growth. Although it is still early, the Alonzo testnet allows our developers to assess system properties and build scalable DApps in advance – preparing for their mainnet launch.

Later this month, the Cardano summit (25-26 September) will showcase many projects, plus provide important updates on the smart contracts roadmap and the ongoing evolution of the technology stack. Developer events, hackathons and the results of Project Catalyst will continue to bring new tools.

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Concurrency may or may not improve a system’s performance, throughput, or responsiveness. The amount of concurrency limits the maximum number of simultaneous operations that can be performed.

To obtain actual performance improvements in a UTXO-based blockchain, processors or other actors should be able to perform multiple actions simultaneously. The higher the level of concurrency, the higher the maximum possible parallelism. Such an approach then translates to performance improvements and throughput. It also provides significant advantages over account-based systems (like Ethereum).

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Cardano’s approach to DApp deployment is different and thus it requires a learning curve and a different approach. This is like working with different programming languages: there is one goal – to deploy a solution, but so many programming languages to use for this purpose.

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It is a developer friendly framework aiming to help build real world decentralised & secure applications.

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