Cardano (ADA) Hails Mary Update as Key Milestone in Goguen Rollout
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Cardano (ADA), a decentralized open-source project establishing one of the top blockchains for smart contracts, has confirmed that the Mary protocol upgrade is right on schedule.
In an official tweet, the Cardano core development team (IOKH) notified the community that the Mary Cardano protocol update would go live on March 1. The team hailed Mary’s deployment to Mainnet as another key milestone that brings ADA closer to the Goguen era.
the IOHK team added in a follow-up tweet:
“We shall shortly submit the updated proposal for the Mary update to mainnet, ready to take effect via a hard fork combinator event at the border of epoch 251 at 21:44:51 UTC on March 1, 2021”
Cardano founder Charles Hoskinson had earlier revealed that Mary’s testing and quality assurance would be finalized on February 24. The actual Mary Mainnet activation was scheduled to happen five days after the previous epoch’s initial trigger.
According to IOHK, the update will be activated by a Hardfork Combinator, allowing the system to transition without requiring a chain split on Cardano.
A Step Towards Smart Contracts
The Mary Fork marks a major achievement for the Cardano project 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.
Per the latest tweet from IOHK, the much-awaited update will introduce native tokens and multi-asset support. The development is expected to bring exciting new use cases to ADA and pave the way for a flourishing decentralized crypto economy.
In essence, Mary opens a world of possibilities to developers looking to migrate to or build user-defined native tokens on Cardano completely. This feature will transform the decentralized blockchain into a multi-asset blockchain.
The imminent update is set to take Cardano closer to realizing its full promise of delivering a wide range of use cases such as non-fungible tokens (NFT), stablecoins, Decentralized Finance (DeFi), and more.
Inching Closer to Goguen Era’s Full Deployment
Mary is one of the two hard forks needed to usher in Goguen, an era that promises to integrate multiple decentralized services and solutions.
Furthermore, Goguen will bring more third-party developers to the Cardano blockchain, generating increased self-sustaining demand for the ADA token. The migration into Cardano will also boost the network’s overall effects.
Users can look forward to improved scalability, performance, and lower transaction costs, which will especially benefit DeFi platforms plagued with exuberant fees on Ethereum. What’s more, ADA will be fully tradable with native tokens, unlocking the full potential of DeFi applications.
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