Cardano: Update Mary will allow tokens to be created

Since the beginning of the year, the price of ADA has multiplied by more than 4. Cardano has taken advantage of the new craze around crypto currencies. But there is also interest in the token due to the improvements being made to the blockchain. Recently, the Mary update was implemented on the testnet. The Cardano Foundation hopes to deploy it on the mainnet by the end of February. The Goguen update, which accommodates smart contracts, is also expected to be implemented at the same time. Which means that Cardano will finally be armed to try and compete with Ethereum.

Mary and Goguen: Cardano enters the big leagues

Until now, Cardano was considered as an academic blockchain project bringing together high-level scientists, but the solution of which was still theoretical. With Mary and Goguen , serious things will finally begin. After this update, Cardano will support the creation and exchange of tokens (ERC equivalent of Ethereum), as well as smart contracts . These are the features that made Ethereum so successful.

However, Cardano did things differently. And so much the better, we want to say. If it took a while, the ADA team had plenty of time to learn from Ethereum’s youthful mistakes. To identify your weaknesses. This is how Cardano will offer tokens that can be created or sent without having to resort to a smart contract . Which will be much lighter and more economical. It is as if the ERC-20 tokens could be sent over Ethereum like ETH , with a gas limit of 21000. This system has another advantage: the security is reinforced since there is no smart contract, therefore risk of exploit.

Cardano smart contracts are coming

Of course, smart contracts remain essential to be able to create decentralized applications . MAJ Goguen will introduce them within a few weeks. Even if the development of Cardano is far from over, as is the case with Ethereum, the project will finally be able to show what it actually has in its belly.

Next step: scaling

The next step in Cardano’s roadmap is called Basho . It is dedicated to scaling . In particular, Cardano’s performance should be facilitated by Hydra , a concept similar to Ethereum sharding. Each “hydra head” should be able to independently process 1,000 transactions per second. By multiplying the heads , one would be able to obtain the desired transaction speed, depending on the needs.