A hard fork is basically creating a parallel network. Once, a hard fork is applied the new version would be completely separated from the old version. In fact, there would not be any transaction option or communication between those two networks. Basically, the new version includes all the historic transactions and after the split, each version has its own transaction history. In the latest news from cryptocurrency world, Cardano will experience a hard fork.
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Cardano hard fork to introduce Goguen
IOHK is the development team behind Cardano. Recently, IOHK intended to execute some kind of smooth upgrade path to Goguen. In fact, they are going to apply a new hard fork of the protocol. The new upgrade scheduled for mid-December.
This week, a software engineer at IOHK, Kevin Hammond, revealed that Cardano will experience a hard fork this coming month. In fact, it’s a part of its transition to the Goguen development era. However, most observers consider hard forks as some kind of trauma, Hammond believes that these events will be much different for Cardano.
He mentioned that Cardano handles the up-coming hard fork automatically. This process will be happened without stopping block production. As a result, it would be a smooth upgrade experience, which allows the platform to have new capabilities as well as new features.
The hard fork is designed to enable ‘token locking’
The hard fork is designed in a way to introduce new efficiencies to Cardano network. In fact, it introduces in order to enable ‘token locking’. This feature will record that how a token utilized on the blockchain.
Hammond talked about ‘token locking’. He said, in this case, locking means ‘reserving’. It means that you reserve a specific amount of tokens for a certain period. As a result, these tokens cannot be disposed of gaining a benefit. Hammond added, that Cardano is planning to integrate other custom tokens into the blockchain. As a result, it can be used alongside its native cryptocurrency named ADA.