Cardano to Launch Hard Fork Before Next Major Development Phase


IOHK, the development team behind public blockchain project Cardano, said it is set to launch a hard fork in December as part of the transition to the third development phase of the protocol. 

Dubbed “Goguen,” the third phase will be focused on the protocol’s integration of smart contracts after building Cardano’s foundation and decentralizing its system in the first two phases. 

The hard fork will introduce the token-locking mechanism, one of its most significant new functions, to the mainnet. It will enable the network’s smart contracts to support certain conditions such as making users hold tokens for a fixed period of time in order to complete a contract.

While only having a slight impact on the actual ledger, the token-locking function will prepare the platform for smart contracts and the creation of assets that run on Cardano, Kevin Hammond, the company’s software engineer, said in a statement.

In addition, the upgrade will bring custom tokens into the network besides its native ADA token, Hammond said. 

Founded in 2015, Cardano has experienced multiple hard forks to evolve through its five development phases, according to its roadmap. After the Goguen era, the protocol will go through the last two phases, Basho and Voltaire, to improve its scaling and governance functions.  



Source link

Latest articles

This key resistance level can hinder Bitcoin from reaching ATHs

This key resistance level can hinder Bitcoin from reaching ATHs Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins...

Tether (USDT) faces criminal probe in the US, report says

Tether (USDT) FUD surrounding the stablecoin’s issuance could have a new chapter in the form of criminal charges, which would mark a major...

Early crypto exchange boss says China remains 50/50 on outright Bitcoin ban

The co-founder and former CEO of crypto exchange BTCC, Bobby Lee, said Beijing could move to ban Bitcoin entirely.Recent FUD activity, coming from...

Binance cuts AUD, EUR, GBP trade pairs amidst regulatory crackdowns

Crypto exchange Binance announced it is delisting margin trading pairs for three fiat currencies, namely the Australian dollar (AUD), the Euro (EUR), and...

Related articles

Leave a reply

Please enter your comment!
Please enter your name here