Cardano Releases New Roadmap for Goguen Launch
Popular blockchain platform Cardano has released a roadmap for its upcoming network update, Goguen. Cardano research arm IOHK made this known in a tweet which showed an image with the roadmap.
Goguen Era Incoming
According to the roadmap, Cardano aims to deliver most parts of the Goguen update by February 2021. The Goguen update is regarded as an important piece in the development of Cardano. It is expected to enable new features that would enable smart contracts developments on Cardano network.
This would represent a major change from its current phase which has been focused on ensuring smooth transactions on the platform. It is expected that the deployment of Goguen would enable tech startups and developers to build decentralized applications on the Cardano blockchain.
Cardano also revealed in a blog that it had added transaction metadata to its blockchain protocol. The feature was developed using the Atala product suite and would offer a tamper-proof supply chain for decentralized identification.
Cardano revealed its unique feature for Goguen which is the ERC-20 convertor. The ERC-20 converter will enable blockchain interoperability by enabling the conversion of ethereum based tokens to Cardano tokens.
Popular Ethereum tokens including NFTs and other digital assets would be able to port onto the Cardano blockchain via the ERC-20 converter. A live demo was displayed in which AGI tokens in a Metamask wallet was converted to tokens on the Cardano blockchain.
Cardano To Roll-Out Native Tokens
Cardano also revealed that it will begin rolling out native assets on its blockchain network. The pre-production of these tokens begins in December according to the roadmap released on Twitter. Cardano CEO Charles Hoskinson updated the crypto community on the progress ongoing via a video uploaded to Twitter.
Hoskinson spoke on the native asset standard that had been integrated into the ERC-20 convertor. “The point of the Native Asset Standard in the ERC-20 convertor is to establish a co-evolution of the technology and the commercialization of the technology…we’ve been using that as a way to create a conversation with those who want to migrate or build on Cardano.” He said.
He further revealed that the native tokens launched on Cardano would have the same preference as ADA. This according to him makes it different from ERC-20 tokens where Ether is accorded greater preference over other tokens.