Cardano aims for „smooth“ Hardfork for mid December6. Dezember 2020
Cardano aims for „smooth“ Hardfork for mid December
IOHK, the development team behind the Cardano crypto project, has announced that the associated block chain will undergo a hardfork in mid-December.
Kevin Hammond, one of IOHK’s software programmers, accordingly announced this week that the Hardfork will take place this month, with the Bitcoin Future Hardfork being related to the early transition to the „Goguen“ development level. Because hardforks have become a red rag for many crypto users, as they often bring about radical changes, Hammond appeases the Cardano community in advance, and gives the all-clear:
„Cardano can perform hardforks automatically without having to stop block production. This will make the upgrade process much smoother than with other projects, giving us even more freedom to introduce new features and further develop the platform“.
With the upcoming Hardfork, the Cardano network is set to receive several improvements, including a feature called „dry-locking“, which allows certain tokens to be locked for a certain period of time.
To this end, Hammond explains:
„Locking in this case means the blocking of tokens for a certain period of time so that no unfair advantage can be derived from them in certain situations, e.g.: when voting or operating smart contracts“.
Hammond also reveals that Cardano will soon enable the integration of further crypto-tokens that can be used in addition to the company’s own crypto currency ADA.
Cardano was founded in 2017 by Charles Hoskinson and is referred to as the „Ethereum Killer“ by many industry experts, as the platform, which is similar in function, offers better scaling and more extensive features for smart contracts than its big competitor. However, the project is notorious for its long lead time. So far only basic developments have been made on the project’s block chain. With the development stage Goguen, Smart Contracts will be integrated for the first time.
Nevertheless, ADA is one of the strongest crypto-currencies on the market, which proves that many investors believe in the ideas and long-term assertiveness of Cardano. In the current year, ADA has achieved a gain of more than 400 %, which recently even reached a multi-year high.