Home » IOHK brings in a unique Interoperability feature

IOHK brings in a unique Interoperability feature

by Brian Armstrong
90232172 2e7a 464e 9400 Adba4cd00cf5

Cardano Platform boasts high efficiency and capability to provide a massive interoperability level on the blockchain projects as it can host any token.

With the latest interoperability feature, the company can facilitate the handling of non-native blockchain assets natively.

IOHK Announces Major Token Update

The feature would enhance the interoperability of the Cardano blockchain to a massive level allowing representation of other blockchain tokens on the Cardano Blockchain without any custom code. The upgrade helps Cardano treat the other tokens like its native token ADA. The new feature enhances the blockchain’s capability and helps other projects leverage the Cardano Blockchain’s cost-effectiveness, security, and efficiency.

IOHK native tokens would undergo a transformation. The process removes the redundant layers facilitating third arty tokens to work on the Cardano blockchain without having to adapt to the chain. The new feature brings more efficiency and reduces the cost considerably. The various digital assets behave like ADA, Cardano native token bringing more efficiency and agility. The projects get access to high speed and security with reduced cost.

Right not tokenization methodology is very lackadaisical and clumsy as one needs to create and run custom code for using other tokens on any chain. There is an unnecessary layer that increases the transaction cost. Since the token code for the two participating blockchains standards is to be adapted, it makes the process time consuming and inefficient. In case there is any lag in the system or a human error, the custom code can leave bugs in the system leading to a massive loss.

The interoperability feature on the Cardano blockchain would be rolled out in the first quarter of 2021.

IOHK announced the successful execution of Allegra. Allegra protocol update introduces the token locking on the blockchain, which ensures that the specific token issued on the Cardano network is used only for the purpose it was released for.

Token locking is described as a minute change in the protocol that can significantly affect the Cardano functionality. The ADA token holders need to run the latest version of their wallets, and the stake pool operators would update their nodes to the upgraded version. The Cardano Foundation and IOHK teams would assist the exchanges for the software update.


The information discussed by The Coin Magazine is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Do your due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright The Coin Magazine All rights reserved.

Popular News

Leave a Comment

Ads Blocker Image Powered by Code Help Pro

Please support us to continue to provide free news for everyone

We have detected that you are using extensions to block ads. Please support us by disabling these ads blocker.

Powered By
Best Wordpress Adblock Detecting Plugin | CHP Adblock