Mary Update Successfully Activated on Cardano Network

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On the evening of March 1, the Mary update was activated on the Cardano blockchain, adding the creation of custom tokens without smart contracts.

Mary’s hard fork is another step towards the Gougen update, which will add support for smart contracts and the ability to create decentralized applications based on the Cardano network.

“Congratulations on the start of a wonderful multi-active era on the Cardano Network.” wrote
developers on Twitter.

After the Mary update, users will be able to create their own tokens and conduct transactions with them directly on the blockchain. At the same time, all logic works at a basic level and smart contracts are not required to work with tokens. A wide variety of types of tokens are supported – from non-fungible tokens (NFT) to tokenized securities. More than 1,400 different tokens have already been launched on the Cardano blockchain, but most of them were created as a test.

“Since tokens do not require smart contracts, users will be able to receive, send and burn their tokens without the additional transaction fees required by smart contracts,” the IOHK blog says.

Interestingly, before the Mary update, Dubai-based investment company FD7 Ventures announced the sale of $ 750 million worth of bitcoins to buy ADA and DOT, and a little later announced the launch of a $ 250 million fund to support the development of applications on the Cardano and Polkadot blockchains.

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