Cardano to Launch Hard Fork Before Next Major Development Phase

The hard fork will introduce the token-locking mechanism, one of its most significant new functions, to the Cardano mainnet.

Dec 5, 2020 at 10:38 p.m. UTC
Updated Sep 14, 2021 at 10:38 a.m. UTC

IOHK, the development team behind public blockchain project Cardano, said it is set to launch a hard fork in December as part of the transition to the third development phase of the protocol. 

Dubbed "Goguen," the third phase will be focused on the protocol’s integration of smart contracts after building Cardano’s foundation and decentralizing its system in the first two phases. 

The hard fork will introduce the token-locking mechanism, one of its most significant new functions, to the mainnet. It will enable the network’s smart contracts to support certain conditions such as making users hold tokens for a fixed period of time in order to complete a contract.

While only having a slight impact on the actual ledger, the token-locking function will prepare the platform for smart contracts and the creation of assets that run on Cardano, Kevin Hammond, the company’s software engineer, said in a statement.

In addition, the upgrade will bring custom tokens into the network besides its native ADA token, Hammond said. 

Founded in 2015, Cardano has experienced multiple hard forks to evolve through its five development phases, according to its roadmap. After the Goguen era, the protocol will go through the last two phases, Basho and Voltaire, to improve its scaling and governance functions.  

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
Tether’s Reserve Attestations: Commercial Paper Down, Treasurys Up

Will the attestations be enough to calm Tether’s critics?

Will the attestations be enough to calm Tether’s critics?

CoinDesk - Unknown
2
CoinDesk - Unknown
Commerce Dept. Asks for Public Comments on Framework for US Crypto Competitiveness

The request is in response to President Biden’s executive order in March asking for agencies to coordinate their approach to digital assets.

The request is in response to President Biden’s executive order in March asking for agencies to coordinate their approach to digital assets.

CoinDesk - Unknown
3
CoinDesk - Unknown
Panama President May Veto Crypto Regulation Legislation

The bill was approved by the country's legislature in April.

The bill was approved by the country's legislature in April.

CoinDesk - Unknown
4
CoinDesk - Unknown
Ryder Ripps, Bored Apes and 'Owning' an NFT

A debate over fair use and copyright in the NFT age ensues.

A debate over fair use and copyright in the NFT age ensues.

CoinDesk - Unknown