The newest Cardano protocol has been launched on the 1st of March. From announcements on Twitter, IOHK which is the company partnering with Cardano protocol ascertained the update of the Mary protocol.
Mary Protocol under Development
The upgrade will demand a hard fork that is set to emerge live on the main net fully on the 1st of March. The supporting company to Cardano said that they would give more details about ‘Mary’ and what impact such development will have on Cardano at the Cardano360 program, among many other remarkable developments.
The recent protocol was named after Mary Shelley, the author of Frankenstein. It is said to hugely expand Cardano’s capability using the two most important features:
native coins and multi-coin ability.
This update procedure requires meticulous and watchful management with exchanges and whichever the third party integrated presently with Cardano.
Just like the two earlier Cardano protocol updates (Shelley &Allegra) the same HFC approach is used. The company hopes that the entire upgrade operation will be smooth as well and generate little disruption to exchanges and their users. Those who have ADA on exchanges or their wallets do not have to bother if it is safe. Yet, it is likely that some users on the exchange will witness network lag or temporary inaccessibility as they round up their final integration work.
Whichever owner of ADA is holding their funds at an exchange will be given the privilege to trade continuously during this time, though, these people may experience issues for a while over withdrawals & deposits when the update process of the exchange is still ongoing.
The rave surrounding the Mary Protocol upgrade
Mary is a hard fork to change the Cardano’s blockchain protocol back to how it was during the era of Goguen Smart Contract dating and to the Shelley centralization period that was released successfully on the 3rd of February, 2021 in the form of testnet.
To get to the hard fork, Cardano needed to go through Allegra, a pioneer hard fork, which set the foundation for Mary when it introduced a formerly packaged code so that engineers could commence testing. This process involved analyzing money scripts, burning and obtaining tokens, and sending tokens in a transaction.
The long-expected update of Mary provides local resources to the testing network of Cardano and enables developers to build custom tokens or transfer previous projects to Cardano. This is a major update that brings about a series of options to developers & organizations that want to update or move to Cardano. Mainly, every phase draws the journey of Cardano closer to their aim which is absolute decentralization, workability, scalability, and sustainable coordination.
Crypto platforms now have complete access to the Cardano testnet that will aid their integration activities. Yet, each platform varies and adheres to its personalized integration procedures and timelines.
To get the most recent status update on the exchange of choice, there are several exchanges Cardano is working with regarding the integration. For those who have concerns, we advise you get in touch with your exchange of choice. As we work closely with every big exchange, they should be able to offer the most recent technical status.
If you go through any difficulty any time soon with your exchange of choice, you have to firstly contact or create a support ticket on their platform. It is advisable you also visit their Twitter Page as most times, they display updates on there.
Okereke has a passion for researching blockchain and cryptocurrency. He enjoys creating long form educational content to inform others on the opportunities in this space.