AnalysisCryptocurrency news

Cardano’s move in February looks like it will make a sound

Cardano’s move in February looks like it will make a sound.

Cardano Founder Charles Hoskinson’s updates have been crucial to the development of the ecosystem over the past year.The IOHK CEO provided information on some important updates to the community during its recent AMA.Hoskinson explained that the Mary hard fork will arrive in February and likewise promise to provide “local multi-asset support” to the Cardano network.

Moving to the Main Network

The long-awaited functionality has been running on Cardano test networks for some time now. The Hard Fork Combinator (HFC) event is expected to move to the mainnet with the addition of infrastructure for the extended UTXO model.

Local assets in Cardano will be implemented in a way that eliminates the additional complexity Ethereum needs for the same functionality.According to an IOHK blog post, Ethereum requires custom code to support user-defined tokens on-chain.This adds a layer of complexity, cost and inefficiency. Because for both standards, the token code is duplicated and adapted rather than being part of the system.

Cardano reportedly supports user-defined tokens natively through the native token framework without the need for custom code.This eliminates the need to use custom code or costly smart contracts.

Cardano and Decentralization

In fact, Cardano claims to be much more decentralized than Bitcoin and other cryptocurrencies.Hoskinson claims that this was calculated by Cardano as having a unique asset that generates 100 times more blocks than Bitcoin.

“When we usually say decentralization, we definitely mean the number of nodes participating in the consensus process and how many unique people make blocks,” says Hoskinson.

“When it comes to Bitcoin, 3 to 5 usually do the same blocks over and over again. We (Cardano), on the other hand, have a pool of 300-500 staking focused, which constantly creates unique blocks. “

He also emphasizes that there are more than 1200 registered stake pools, so Cardano is not afraid to claim 100 times more decentralized.

Samuel Hegi

Samuel Hegi , who first became acquainted with blockchain technology in 2014, is highly critical of blockchain technology. Samuel Hegi, a journalism graduate from the University of Brighton he is the editor-in-chief of the news portal. Blockchain is love.

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