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Cardano: IOHK close to launching native tokens pre-production environment

  • IOHK is close to launching a pre-production environment for native tokens. 
  • The Goguen development teams are on track to test smart contract functionalities.

Cardano’s main developers have made their last update for 2020 on the deployment of Goguen. In their latest bi-weekly video, Dimitris Poulopoulos, Goguen Project Leader, and Volodymyr Hulchenko, Cardano Project Leader, said they have had the most active month of the year.

Recently, IOHK announced the successful implementation of the token locking feature with the hard fork combinator. The event is the second step in fully integrating Cardano’s decentralized finance capabilities.

In this regard, Hulchenko reported that Cardano node and ledger teams were focused on making diagnoses and testing the token locking over the last two weeks. Preliminary results have been positive and the functions are operating as expected. No previous functions in the Ledger wallets have been affected by the update. In addition, they have begun work on a new Goguen feature called Extended UTXO. Hulchenko added:

(This feature) is an addition to the Shelley era unspent transaction output mode needed to support smart contracts on Plutus.

Progress on Cardano’s ERC-20 converter

Poulopoulos said that they are close to opening the token pre-production environment. This will allow native tokens to be issued and distributed on Cardano. The team has focused on 4 key activities: completing the environment and running quality control on the native CLI token node functionality, updating documentation and tutorials, adding a native token section to the developer website and registering tokens via metadata.

We will soon make available the first version. Please be sure to keep an eye on communications updates in the coming days if you are interested in creating your own tokens using the command line. Please note that this is only an early version of the production environment (…).

One of the key stages has been to produce an intermediate version of the BE wallet that can operate with the MA node without any impact on the functionalities. Overall, advances have been made in the ERC-20 token conversion tool that will allow the migration of tokens from Ethereum to Cardano. The team is “on track” to begin testing the functionality on the native token node of the CLI pre-production environment.

Regarding the Plutus platform that will host the smart contracts on Cardano, Poulopoulos said they have been refactoring the PLC formalization, repairing bugs, and writing a language-independent specification that describes the Flat encoding, among other activities.

Marlowe’s team is currently working on the upcoming beta release of the financial contract language. In addition, they are planning Marlowe versions 1.0 and Marlowe 1.x which will be linked to Plutus, and fixing bugs in the user interface. Poulopoulos added:

We have started using testing trials that should continue repeatedly throughout the period leading up to the release of V1.0 and beyond (…)

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