The world-renowned software corporation, Input-Output HK has confirmed the update of the Mary Cardano Protocol, and the same is slated to take place on 1st March 2021. The update shall bring about the launch of native tokens and new use cases for Cardano and provide support for multiple assets. This update is the most significant aspect of the Goguen period of the Cardano development. While the Shelley era of development is marked by the decentralization of the core system, the Goguen era is known for enabling the development of DApps (Decentralized Apps).
The latest improvement shall incorporate a multi-currency ledger that will allow the users to develop natively-supported tokens. The Token Builder function of the Cardano platform shall allow the users to mint and create their own Cardano-based assets. The upgrade shall be made active by the Mary hard-fork combinator, and therefore, hopefully, there shall be no chain split in Cardano. The ADA staking operators of Cardano have already commenced the testing operations with the implementation of ADA-native tokens.
The new tokens can be either fungible or non-fungible and will enable the creation of novel cryptocurrencies. With the upgrade, the platform of Cardano will also be employed for the tokenization of various types of physical and digital assets. These highly customizable native tokens shall be available for direct transaction at the Blockchain network. However, the previous currency, Ada, shall remain the primary currency of Cardano, even though Cardano is now all set to transform into a multi-asset platform.
With the upcoming upgrade, the Cardano ecosystem is also focusing on developing the infrastructure to support the Mary tokens. The all-new and unique Yoroi wallet has been developed to store and transfer of the new Cardano-based assets and ADA tokens.