Cardano (ADA) introduces registry for native tokens
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April 16, 2021The Cardano (ADA/ADA) Foundation has released a registry for native tokens, a collection of centrally managed on-chain identifiers. This was reported by YouTube on the 15th (local time).
The registry is intended to provide all essential information, including the name, ID, and list of key features of a particular token.
“Basically, the Cardano registry provides access to the actual characteristics of the native tokens distributed to Cardano through user-readable metadata and other descriptive information. Eventually, this data can be viewed with native tokens through Daedalus and Yoroi wallets.”
It is not obligatory for developers to register tokens. However, this means that the token’s name is not duplicated on the blockchain, so you can verify that the token is genuine.
Another advantage is the ability to verify tokens and view the most relevant metadata with the help of policy IDs.
[600 native assets]
Native tokens arrived on the Cardano blockchain in early March after the long-awaited Mary Hard Fork was activated. These are similar to ERC20 tokens running on the Ethereum network.
Overall, there are currently over 600 assets on the Cardano blockchain.
(The Cardano Foundation has announced a registry for native tokens, which is a centrally-managed collection of on-chain identifiers.)
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Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.
