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For quite some time, the Cardano Foundation has been working towards a more open network. To support this vision, it released smart contracts, and the Foundation is now working to establish a Cardano registry, according to a recent statement.
According to the said announcement, the Foundation has introduced the Cardano Registry to keep a record of minted tokens. This minting of tokens was possible due to the Mary protocol upgrade that went live on 1 March this year and was a stepping stone for the development of the Goguen upgrade. Goguen is responsible for introducing the smart contracts feature, allowing everyone to mint on the Cardano blockchain.
The register is another important achievement for Cardano in order to keep the network running smoothly. It will maintain a centralised record of the minted tokens and is a “trusted and curated collection of on-chain identifiers for tokens written and deployed on Cardano.” Public keys, hashes, token addresses, minting policies, and other identifiers are examples of these. This also requires developers and token creators to enter their token information into the register.
Authenticity, metadata exploration, and authentication are among the advantages of registering a token on the Cardano registry, according to the team. The registration process ensures the validity of minted tokens, which are minted by developers in accordance with the platform’s guidelines. Furthermore,
“The Cardano Registry will be maintained on an opt-in basis. Token owners are required to submit a single JSON file and submit a GitHub pull request for admission to the registry. Likewise, modifications to existing entries will require a pull request. Approval of pull requests will be subject to both automated checking and human manual approval.”
Meanwhile, ADA has grown by 804 percent since the beginning of the year on the charts. Despite being valued at $0.1682 in January, the digital asset continued to break the $1 mark in February. At the time of publication, the altcoin’s value was stable at $1.42.