Prototype for DeFi app store heralds a new era

Shortly after the hard fork Alonzo, Cardano introduced a platform for certified, decentralized applications, the Plutus dAppStore.

Input Output (IOHK), the development company behind Cardano, has announced a store for DeFi applications. In the Plutus dAppStore, developers can upload their Cardano dApps so that the community can find them there more easily. In a blog post on Wednesday IOHK published a preview of their new “integrated approach” for the development of the Cardano ecosystem in the run-up to the Cardano Summit 2021. A first version of the Plutus dAppStore will be presented there.

The Cardano Summit 2021 will take place on the 25th and 26th of this month. Cardano’s director of branding and communications, Sidney Vollmer, hinted that some of the partnerships announced during the summit “will blow people away.”

Cardano had only recently ushered in the era of smart contracts. Whether the hard fork Alonzo will bring a turnaround in the DeFi world and scratch the supremacy of Ethereum remains to be seen for the time being. While the actual upgrade went smoothly, many in the community were disappointed that only a very small number of applications were available over the network.

How does Cardano solve the simultaneity problem?

With the new Plutus dAppStore, Cardano would like to fix two grievances. For one, there is currently no formal discovery process for dApps running on the network. Second, there is no comprehensive view of all dApps available to end users in a given ecosystem. The Plutus dAppStore should be able to solve these problems.

According to the announcement, users will access the Plutus dAppStore via a web browser. Product manager Shruti Appiah speaks in her blog of a “showcase” for Cardano. In addition to the dAppStore, IOHK is also introducing a formal certification program for decentralized third-party applications on Cardano. The aim of the program is to give users security about the integrity of the dApps they use through automatic logic checks, manual smart contract audits and formal verification.

The Alonzo Hard Fork does indeed represent a turning point in the DeFi cosmos. It remains to be seen whether this will change the undisputed Ethereum dominance in the long term. Account-based blockchains such as Ethereum allow multiple users to interact with the same smart contracts by default. State-based or EUTXO-based networks such as Cardano present developers with certain difficulties in this regard. One speaks of the “concurrency issue ”, a “simultaneity problem”. Due to the familiarity of the problem, a solution is already being sought in many places.

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