Cardano (ADA) Mary Hard Fork provide multi-asset support

Cardano (ADA) Mary Hard Fork provide multi-asset support
Written by:
Ali Raza
January 13, 2021
  • Cardano has been busy after the closure of “Fund 2 of Project Catalyst" and $500,000 projection for “Fund 3".
  • “Mary” hard fork will be the second Cardano hard fork linked to Goguen, after “Allegra hard fork combiner".
  • The new features on the Cardano network will ensure its interoperability for the DeFi.

Charles Hoskinson, Cardano’s founder, has given an update on the upcoming Cardano Mary hard fork. In the latest update, he says the project will offer multi-asset support when it eventually goes live next month.

He made this announcement during his latest AMA, as the Cardano (ADA) community is brewing with anticipation over what the new hard fork offers.

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Although the functionality has been undergoing a serious upgrade on the testnet, Hoskinson says the Hard Fork Combinator (HFC) will be taken over to the mainnet. Additionally, there will be more infrastructure to take care of the extended UTXO model.

Placing block production entirely on the community

Hoskinson has been very optimistic about the prospect of the platform in 2021. He said the company has taken several approaches to make sure the platform is fully ready for what is coming ahead in the industry.

He hinted that there are many agreements and partnerships on the horizon, in preparation of the decentralized applications that will be built on the Cardano network.

Hoskinson also talked about the reduction in the platform’s decentralized parameters from “D to 0” in March.  According to him, the company is on track when it comes to the decentralization schedule. With everything in place, Cardano will soon achieve one of its long-term goals, which is to make sure block production is exclusively in the hands of the community.

Progress made on the Cardano network

The “Mary” hard fork will be the second Goguen-linked hard fork on the Cardano platform after the “Allegra hard fork combiner.”

The new capabilities on the Cardano network were meant to make the platform interoperable for decentralized financial protocols (DeFi).

Also, Hoskinson, who is also the chief executive officer of IOHK, has lauded the progress of the Plutus platform development team. According to him, the platform will host smart contracts created on the Cardano network. It will be utilized by users along with the partial delegation, hybrid wallet, and other tools, according to Hoskinson.