A hard fork took place on the Cardano network Mary. The update opened the possibility of creating native tokens similar to the standard ERC-20 on the Ethereum network.
Keep track as new native tokens get minted by our developer community, courtesy of our friends over at https://t.co/k2vFyIeNKw pic.twitter.com/GTWgHy3wA3
– Input Output (@InputOutputHK) March 1, 2021
Head of IOHK Charles Hoskinson in announcement the hard fork called this step “historic”. According to him, the update was preceded by a month of testing.
What is Cardano?
Mary is a milestone in the third phase of Cardano’s development Goguen with support for smart contracts and the ability to create decentralized applications.
According to the Token Tool, 1,432 tokens function on the Cardano network, but most of them are created for research purposes.
The news of the hard fork did not generate a noticeable market reaction. Over the past 24 hours, the price of Cardano has dropped 7.6%, according to CoinGecko. The asset retains the third place in terms of capitalization after renewal of historical high on February 27.
As a reminder, on January 27, the asset management company Grayscale Investments filed applications for registration six new trusts, including those based on Cardano.
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