Goguen Phase Key Points
- The Goguen Phase is a part of the Cardano development roadmap and is focused on the integration of smart contracts.
- It is named after the American computer scientist Joseph Goguen.
- The Goguen phase introduces the ability to build decentralized applications (dApps) on Cardano’s solid foundation of peer-reviewed research and high assurance development.
- The Goguen update is expected to make Cardano one of the most complete and useful cryptocurrency platforms in existence.
- The Goguen phase follows the Shelley phase and precedes the Basho phase in the Cardano development roadmap.
Goguen Phase Definition
The Goguen Phase is an integral part of the Cardano blockchain platform’s development roadmap. It introduces the ability to build decentralized applications and execute smart contracts on Cardano’s platform. This phase is designed to significantly enhance the functionality and versatility of the Cardano blockchain, making it a more comprehensive and useful platform for users and developers.
What is the Goguen Phase?
The Goguen Phase is a significant stage in Cardano’s development roadmap. This phase is primarily focused on the integration of smart contracts into the Cardano platform.
Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code.
The Goguen phase will allow developers to create and execute these smart contracts on the Cardano blockchain.
Who is Involved in the Goguen Phase?
The Goguen Phase is being developed by IOHK (Input Output Hong Kong), the technology company co-founded by Charles Hoskinson.
IOHK works with a team of engineers and academics from all over the world.
Additionally, the wider Cardano community, including ADA holders and blockchain developers, are also closely involved.
When is the Goguen Phase Happening?
The Goguen phase is a part of Cardano’s ongoing development roadmap.
It officially started in Q4 2020, following the completion of the Shelley phase.
While the timeline for full implementation is subject to change, it is expected to be completed in several stages.
Where is the Goguen Phase Implemented?
The Goguen phase is being implemented on the Cardano blockchain platform.
This is a decentralized public blockchain and cryptocurrency project which is fully open source.
Once fully implemented, the Goguen phase will be accessible to developers and users globally.
Why is the Goguen Phase Important?
The Goguen phase is important because it significantly expands the capabilities of the Cardano platform.
By introducing the ability to build and execute smart contracts, it allows Cardano to host and support a much wider range of applications and projects.
This, in turn, can contribute to the overall value and utility of the Cardano platform and its native cryptocurrency, ADA.
How Does the Goguen Phase Work?
The Goguen phase works by introducing new protocols and functionalities to the Cardano platform, particularly around smart contracts.
This includes the introduction of Plutus, a purpose-built smart contract development language and execution platform using the functional programming language Haskell.
The Goguen phase also includes the Marlowe development environment, which allows financial and business experts with no previous technical knowledge to create smart contracts.
Overall, the Goguen phase aims to make the process of creating and executing smart contracts on the Cardano platform as seamless and accessible as possible.
