Wednesday, April 14, 2021
Home Crypto News Market Cardano New Update Goguen Coming In Mid-December

Cardano New Update Goguen Coming In Mid-December

- Advertisement -

Software Engineer at IOHK Kevin Hammond said that the Cardano network would host a hard fork in mid-December known as Goguen, which will be the next step towards updating Cardano.

Kevin Hammond stressed that unlike other blockchains, block production would not stop during a hard fork in the Cardano network, and the update would take place automatically. This would allow to quickly and efficiently implement new features.

The new hard fork should make the Cardano network even more efficient and add a token blocking feature. This function allows you to determine how the token is used. 

In an article on the Cardano blog, Hammond explained: “Blocking, in this case, means reserving a certain number of tokens for a certain period so that they cannot be used for other purposes, like, for voting or executing smart contracts.” According to the developer, the Cardano network will soon integrate user tokens that would be used along with ADA.

At the end of July, IOHK launched the Shelley update, which gave users access to the staking system. The Goguen update would add support for smart contracts.

- Advertisement -
Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark is 27, holds a Master degree in Business Administration, and works as a content Creator at TheCryptoBasic mostly on Crypto Market Updates. Since 2014 he has been active in the crypto sector. Thanks to the Business College in which other than Business subjects, he was taught about the disruptive potential of Blockchain. His interests include Blockchain technology and Crypto Market innovations. He also founded a small startup in which he gives lectures on cryptocurrencies.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

Binance List the Coinbase Stock Token (COIN)

Binance will list the Coinbase Stock Token (COIN) on 2021-04-14 (UTC), during which the COIN/BUSD trading pair will be open. Users will be able...

6 Blockchain Business Use Cases You Should Know

The potential of the distributed ledger technology (DLT) — an umbrella term of which blockchain is the most popular kind — is enormous. Businesses...

Europe’s Largest Digital Asset Investment Firm CoinShares Launches XRP Exchange Traded Product (ETP)

CoinShares, a major British cryptocurrency investment company, has announced it plans to list XRP (Ripple) exchange-traded fund (ETP) on the SIX Swiss Exchange. This ETP...

Coinbase Stock Hits The Market And Gets Reference Stock Price of $250 from Nasdaq

Nasdaq has released the figures for the reference stock price of Coinbase, the largest cryptocurrency exchange in the United States, which is scheduled to...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.

follow us in feedly