(Written by @ElliotHill of the Cardano Foundation)
The Cardano blockchain is poised to enter a phase of significant change at the end of February. For the first time in our protocol’s history, users will be able to define their own custom tokens through the multi-asset ledger, adding a new layer of functionality and utility to the Cardano blockchain.
This will be made possible through the Mary hard fork 127, one of the most important events to occur on the Cardano blockchain since the rollout of Shelley in July 2020. As part of the wider rollout of Goguen, Mary represents a step-change for Cardano — delivering long-awaited Cardano components to our community.
Named after the mother of our native token’s namesake 41 (ada), Mary Lovelace, the Mary hard fork will be facilitated by IOHK’s hard fork Combinator 26. This will handle the seamless transition from Cardano’s current mainnet to Mary, and for the general ada holder, no user actions will be required.
We will be publishing a user-friendly FAQ about Mary closer to the time. But here, we’re going to discover some of the things that you will notice with the arrival of Mary on Cardano, and explore Mary’s potential impact on our ecosystem. Below, we’re going to look at what impact it will have on our ecosystem and community.What impact will the Mary hard fork have on the Cardano ecosystem?
We know that native assets and tokens will soon arrive on Cardano, but what can they be used for? Like other blockchains, tokens will be a central and core part of many decentralized applications launching on Cardano. This is likely to take the form of utility tokens, governance tokens, and tokens representing real-world assets.
The important thing to remember is that while smart contracts are arriving shortly — and will form an important part of our ecosystem — they are not required to create a native token on Cardano. This means that as soon as the Mary hard fork is complete, you can...