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“Token locking” feature to be prominent on the Goguen upgrade for Cardano

“Token locking” feature to be prominent on the Goguen upgrade for Cardano

Quick take

1 minute read

  • It was recently announced by Cardano that the new hard fork for the network will happen in the middle of this month. 
  • In the past, the network has seen numerous delays on its upgrades so it will be interesting to see how this goes.

It was recently announced by Cardano that the new hard fork for the network will happen in the middle of this month. In the past, the network has seen numerous delays on its upgrades so it will be interesting to see how this goes.

A software engineer at the project, Kevin Hammond has revealed that the team is going to implement the hard fork though later this month as a part of the transition to the Goguen upgrade era. He further said:

“Cardano handles hard forks automatically, without stopping block production. This gives a uniquely smooth upgrade process that allows new features to be introduced easily and evolve the platform’s capabilities.”

With this new upgrade, “token locking“ is going to be a new feature that will be enabled. This will record how the token is being used on the ledger as the engineer went on to say:

“Locking, in this case, means ‘reserving’ a certain number of tokens for a specified period of time so they cannot be disposed of to gain a benefit (such as voting, or running a smart contract).”

On top of this, the project is allegedly going to be able to integrate other custom tokens into the blockchain that will be able to be used alongside its native token known as ADA.

For more news on this and other crypto updates, keep it with CryptoDaily!

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