It seems that a hard fork was initiated on the Cardano network a few hours ago. This has probably gone unnoticed, and this is probably due to the way in which it’s been executed.
AMBCrypto notes that the hard fork has been initiated in order to introduce the token locking mechanism to the Cardano blockchain and the complete transition will be taking place on Dec.16 at the epoch boundary.
Check out the tweet that Cardano’s Charles Hoskinson shared on his social media account below.
Just initated a Hard Fork for Cardano. You guys notice? That’s the point. When good science meets good engineering, you have elegant results pic.twitter.com/12D3ShfVfU
— Charles Hoskinson (@IOHK_Charles) December 13, 2020
A follower had a question, and he got a quick answer:
hello, since the project is still under-contract with IOG development. They are still the custodians of the code until the contract is complete and the decentralization parameter down to 0. So once all features are complete the community can vote and govern themselves. Soon!
— Clark Alesna | ADAPH (@clarkalesna) December 13, 2020
When someone asked about what the hard fork involves, the answer was this: “It’s an extension of the block format to support new technical features, essentially. It paves the way for roadmap capabilities to be seamlessly integrated into the current chain. You will need to be running 1.24.2 to mint blocks that implement those features.”
Cardano officially entered the DeFi space
Just the other day, it’s been revealed that Cardano officially entered the DeFi space, and there’s an exciting announcement on social media about all this.
The Cardano Community retweeted a post by IOHK media, and reveals all the available details about the new partnership with Bondly Finance.
We’re partnering with @BondlyFinance, which will be the first DeFi project enabled on #Cardano as a part of the roll-out of our smart contract functionality. Our partnership will be a huge step in continuing both companies’ mission to bring decentralized finance to the masses.
— IOHK Media (@IOHKMedia) December 10, 2020
The Cardano community celebrated this achievement.