At St. Mary’s, the Cardano (ADA) update arrives, bringing native, decentralized finance (DeFi) and non-fungible (NFT) tokens to the network. We recently presented this project here.
« Mary » has almost arrived, as have the native assets according to the March 1st tweet from the blockchain technology company and Cardano’s founding entity, Emurgo. « Mary is expected to launch on Cardano’s main network soon. »
The Mary hard fork will soon be live on the #Cardano mainnet. Find the answers to all your questions in our Mary FAQ here! https://t.co/r0GrskWXMq
Goguen’s update ‘Mary’, named after the writer Mary Shelley, brings native advantages to the network and allows developers to create custom tokens or migrate existing projects to Cardano. This is an important step in the transformation of Cardano into a decentralised multi-asset smart contracting platform, which aims to enable a wide range of services and solutions such as DeFi, NFT, stablecoins, etc.
The user-defined tokens in Cardano are native to the Cardano protocol, are not treated differently from ADA by the network and are fully tradable with ADA, the team said. As a result, « project tokens launched on Cardano don’t need smart contracts built on its blockchain », while « transactions between native tokens don’t generate high fees, making DeFi applications even more affordable ». This argument makes Cardano a competitor of Ethereum (ETH) because this very popular network has high fees.
On February 3, the Cardano IOHK development team announced the success of the fork, stating that the upgrade of the native Goguen « Mary » token had been applied to the testnet, and that the main network would follow.
The Cardano network’s transition from the Shelly era to the Goguen era is being done through three updates, starting with two hard forks: Allegra was activated in December 2020, bringing production-ready code for engineers to start testing, followed by Mary, and then Plutus.
In addition, earlier in the day, the team announced the launch of their Daedalus multi-asset portfolio on the Cardano public test network.
Tomorrow evening UTC we’ll release a #Daedalus Flight wallet, timed with the Mary hard fork. Then, after final user experience testing with our community of power users (and any last UI tweaks) and we’ll do final integrations and release a full Daedalus for everyone! Onwards! 3/3
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