Cardano’s core development team announced that the Mary protocol update will go live on March 1. Input Output also called it a key milestone in the Goguen rollout in its tweet. While the Shelley era of development is marked by the decentralization of the core system, the Goguen era is known for enabling the development of DApps.
This update will bring on the launch of native tokens and new use cases for Cardano and provide support for multiple assets.
Cardano founder Charles Hoskinson previously said that Mary’s testing and quality assurance would be finalized on February 24. As such everything remains on schedule.
The update will be activated by a Hardfork Combinator according to IOHK. This will allow the system to transition without requiring a chain split on Cardano.
Mary Fork is a Major Achievement For Cardano
The Mary Fork is a major achievement for Cardano as it moves towards smart contracts with Goguen. The deployment on Mainnet kickstarts the ADA protocol’s transition from the Shelley decentralization era closer to the Goguen era.
The Token Builder function will allow the users to mint and create their own Cardano-based assets. The new tokens can be fungible or non-fungible and will enable the creation of novel cryptocurrencies.
The Mary update opens a world of possibilities to developers looking to migrate to or build user-defined native tokens. This feature will transform Cardano from a decentralized blockchain into a multi-asset one.
Mary is one of two hard forks necessary to usher in the Goguen era. That happening will allow Cardano to integrate multiple decentralized services and solutions. Goguen will also bring more third-party developers to the blockchain.
Overall, this will generate increased self-sustaining demand for ADA and boost Cardano network’s effects as a whole.
The update will provide improved scalability, performance, and lower transaction costs. It will also make ADA fully tradable with native tokens, unlocking the full potential of DeFi applications.
Corey has been involved in media and writing since graduating from the illustrious Howard University with a degree in Broadcast Journalism. While relatively new to the cryptocurrency world, he has been writing since 2012 with most contributions coming in the sports world on websites such as LakersNation.com and DodgerBlue.com. Corey is also an avid sports fan who closely follows the Lakers, Cowboys, Dodgers, WWE, and UFC.
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