Following today’s hard form – codenamed Mary – Cardano will allow other blockchain-based firms to make and run their own tokens on the Cardano blockchain.
Expanding A Booming Cryptocurrency
Cardano (ADA) has enjoyed a spectacular growth in recent weeks – as well as some open endorsements, such as the one by rockstar and investor Gene Simmons, who recently bought $300,000 worth of ADA and motivated his decision as an investment into a “cryptocurrency for everyone”.
“ Why did I buy Cardano (ADA)? Well, for one thing, it’s affordable to almost everyone. It’s pennies compared to my other holdings like Bitcoin, which is over $50,000 a single coin. I believe everyone should be able to afford cryptocurrency. And here is one I believe in.”
Back in 2017, Ethereum sparked the so-called “altcoin revolution” by allowing other companies to mint their own tokens on the Ethereum blockchain – and they have since become and maintained their position as the 2nd largest cryptocurrency.
With a bit of luck, Cardano – a cryptocurrency already favourable to new developments and use cases – will see a similar growth.
The company behind Cardano – named IOHK – have been testing the update for around a month and have reportedly received positive feedback from exchanges and other blockchain-based companies regarding the fork.
“We’ve been testing it for almost a month, and the test looks good, exchanges are happy.”
Charles Hoskinson – the founder of IOHK – presented the hard fork of Cardano as a “historic moment”.
Before founding IOHK and Cardano, Hoskinson was a co-founder of Ethereum and BitShares – and it seems the prior experience has been put to good use, with ADA recently becoming the 3rd largest cryptocurrency by market cap.
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