On March 1, the Mary hardfork was activated on the Cardano (ADA) blockchain which would make it a multi-asset network. It also means that the network will be able to host other blockchain tokens without the need to deploy smart contract.
The upgrade will give developers the ability to create and run native tokens on the Cardano blockchain in a similar way to ADA. Charles Hoskinson, the founder of IOHK, said the move is historic and will lower the costs of the development on the blockchain. It will also smoothen the connection between different blockchains.
Cardano’s Decentralization Metric Soars
According to Celsius Network and SingularityNET, they are both planning to start Cardano’s b2b adoption. The upgrade has come at the right moment as the native token (ADA) recently hit a new ATH. Right now, the network is the third-largest cryptocurrency by market capitalization.
The CEO of IOHK said that it shouldn’t be difficult for node operators to transition to the network. He added that all they need to do is to update their software. The Product Director at Input Output HK, Aparna Jue, said the move is a critical one towards the adoption of the network by the public.
Following the news of the upgrade, Cardano’s decentralization metric has soared. The network is expected to be fully decentralized before the end of the month. Right now, the staking pools controlled by the community of users make up 88% of the protocol.
The team responsible for the upgrade has assured users that the project’s aim is to ensure full decentralization. It has also promised users that the governing power will be shifted to ADA staking pools before the month runs out.