IOHK, the development arm behind Cardano, recently announced a new branch of the protocol slated for mid-December.
Kevin Hammond, a software engineer at IOHK, announced this week that Cardano will experience a hard fork during its transition to the Goguen development era later this month. Although most observers associate hard forks with trauma, Hammond said these events are handled very differently on Cardano:
“[…] Cardano automatically handles hard forks without stopping block production. This enables a uniquely smooth upgrade process, with which new functions can be easily introduced and the functions of the platform can be further developed. “
The hard fork was designed to bring new efficiency benefits to the Cardano network and to enable the token blocking feature, which records how a token is used in the ledger.
“Blocking in this case means reserving a certain number of tokens for a certain period of time so that they cannot be disposed of in order to gain an advantage (e.g. voting or executing a smart contract).”
According to Hammond, Cardano will soon allow other custom tokens to be integrated into the blockchain that can be used alongside ADA, its native cryptocurrency.
Cardano was founded in 2017 by Charles Hoskinson and has been dubbed an “Ethereum Killer” by proponents for its scaling capacity and advanced smart contract features. The project is known for its time-consuming roadmap, which so far has focused on blockchain fundamentals and decentralization. The Goguen era begins with smart contract integration.
ADA is one of the top performing large-cap cryptocurrencies of the past year, a sign that investors are campaigning for Cardano’s development progress. The ADA token has returned more than 400% since the start of the year, including a recent brush with multi-year highs.