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How Cardano (ADA) Will Use GeoGnomo To Enhance Interoperability & Standards

GeoGnomo is an open source project by Long Finance’s Distributed Futures research programme.

The idea is proudly financed by Cardano (ADA) foundation and it is targeted towards researching and sharing methods employed in smart ledger geostamping. It enjoys progress owing to its ways of recording areas that also aid efficient retrieval.

It is no doubt that applications needs to go beyond storing transactions (timestamping), they requires geolocation information. This has led to the rise of ‘geostamping. Geostamping is seen as a combination of timestamping and geolocation information.

How It Works

The innovation, GeoGnomo, has built-to-share 3 approaches for recording areal information:

A Quaternary Triangular System.

Quaternary Rectangular System.

A Variable Rectangular System.

All this can be used to record geographic areas into a blockchain by generating source code, and an online translation from latitude & longitude areas to geocodes.

In this wise the blockchain use case has an immediate ‘global post code’ or ‘global zip code’ system.

In a research work published by Long  Finance, it was indicated that GeoGnomo, an open source project “exploring various forms of geocoding for use in Smart Ledgers (aka blockchains with embedded computer code). The GeoGnomo project focuses on memorable systems that provide easy ways to aggregate areas together, as well as giving users some clues to location and distance and scale.”

“By using consistent geocoding data retrieval is easier. Users can share information easily – “tell the drone to come to F49PUR9B7-20”, a resolution of 7.6 metres,” Long Finance said in a statement.

The idea is going to be added to Smart Contract platform, thereby enhancing operability and standards. Interestingly, it may be deployed by Cardano (ADA) any time soon to enhance its Smart Contract platform.

To make the idea well grinded in the minds of people interested in smart contract geostamping, Long Finance is planning a presentation on “Smart Ledger Geostamping – Steps Towards Interoperability & Standards”. This is to keep blockchain enthusiasts abreast of how.

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How Cardano’s (ADA) Marlowe Plans To Disrupt Financial Smart Contracting

Cardano (ADA) has unveiled the use cases of Marlowe, a domain specific language (DSL) which is targeted at the execution of financial contracts in the style of Peyton Jones among other researchers on blockchains.

The Marlowe domain-specic language (DSL), according to IOHK, is modeled as an algebraic type in Haskell, together with an executable small-step semantics.

Marlowe is a language to be used in the finance industry. Once Cardano develops this language fully, it would be able to execute financial smart contracts on its network. The language will give Cardano a strong representation in the finance industry, especially in areas where escrow is needed. The language will disrupt the finance industry.

With ease, bank will be able to execute contract and perform obligations relating to escrow without hurdle. Marlowe will be the next demand for people needing to contract settlement.

In a new paper released by IOHK on Marlowe, it was made known that Marlowe could be embedded in another language for easy smart contracting.

However the paper posited that for Marlowe to be useful in practice, users need to have full knowledge of how contracts will behave once deployed to the blockchain.

“For Marlowe to be usable in practice, users need to be able to understand how contracts will behave once deployed to the blockchain, but without doing the deployment. We can do that by simulating their behaviour o-chain, interactively stepping through the evaluation of a contract in a browser.”

To have full experience of Marlowe, Meadow was developed. It is a web tool that supports the interactive construction, revision, and simulation of smart-contracts written in Marlowe. Meadow according to the paper is written in Haskell and compiled to JavaScript partially by the Haste compiler.

Cardano is finding more use cases for its tools. With growing number of applicability, there is possibility that Cardano becomes a coin that cannot be rubbished in the cryptocurrency space.