IOHK Devs Update Cardano’s Native Tokens Testnet

Cardano was an extremely successful project back in 2020, and 2021 is another year during which the team behind the project will be celebrating more successes.

Recently, the developers at IOHK managed to finalize an upgrade which provides multi-asset support and allows experimenters on the testnet to test and become familiar with using cryptos from other blockchains on Cardano.

Creating native tokens

It’s essential to note the fact that the update introduces the ability to create ‘native tokens’.

This is another important step in the ‘Goguen’ rollout – another thing worth mentioning is that we’ll also be seeing smart contracts enabled on Cardano this year.

It’s been revealed more than once that the native tokens are a really exciting utility feature for Cardano and this will allow it to handle tokens and cryptos from other blockchain platforms in the very same way with all the key functionality available to Cardano’s ADA.

City A.M. online publication recently noted that “This solution allows tokens from Ethereum, whether for monetary value or utility intentions, to be represented on Cardano without the need for smart contracts or custom code.”

It’s also important to note the fact that this also enables those tokens to enjoy all the key benefits of Cardano’s coin ADA.

Also, other blockchain applications from other platforms can take advantage of “Cardano’s superior speed, security and reduced transaction costs,” as the online publication mentioned above notes.

Check out the complete original article in order to find out more details.

Cardano in the news

Other than this, Cardano has been making lots of headlines lately.

The team behind the project just celebrated the fact that Cardano dropped another piece of great news for the community.

As expected, the community is celebrating like crazy these days following so many achievements.

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I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.
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