Cardano Native Tokens
Genius Yield's platform will facilitate the unlimited addition of Cardano native tokens ADA.
It is possible to create a native token with a script or with smart contract . Everybody in the Cardano community will be able to mint their native assets on Cardano.
These assets/tokens will have all the essential functionalities similar to ADA such as the same level of safety and security.
We do not need to use or write smart contracts or custom code to create these tokens. The logic is based on the Cardano ledger rather than smart contracts. No smart contract fees are required to talk to the blockchain.
Any wallet address can be used to send and receive both ADA and native tokens. Multiple tokens can be sent in a single transaction; native tokens can be created and destroyed. Service fees, rewards, and deposits will be paid using ADA only. Cardano ledger supports both fungible and non fungible tokens without specialized contracts.
The tokens have Asset IDs, that include a hash of the minting policy, that is the part that is not stored in the ledger and is customizable. All tokens will be handled in the same way, creating a unified process.
We should also note that with the Alonzo hard fork plan for September 2021, it will be possible to create tokens by using a smart contract based on Plutus.
Last modified 30d ago
Copy link