Goguen Phase

The Goguen era was named after Joseph Goguen, a computer scientist and academic in the US. It is the third phase of the Cardano blockchain. Research on scalability, sustainability and interoperability, in addition to already-existing characteristics like security, has been the primary focus of the Goguen phase. The Daedalus wallet, which Goguen offers, serves as the main entry point and account management platform. Additionally, it has a method to limit rewards based on the difficulty of the mining process, which will encourage active mining and support for other blockchain technologies. The purpose of the Goguen era was to enable developers to build decentralized applications on top of Cardano.

The Cardano network manages tokenization directly on the ledger rather than utilizing smart contracts as Ethereum does. The Goguen era has also made Cardano more approachable to wider audiences through DApp development which does not require any prior technical knowledge, thus, allowing users of every background to develop applications. It also improves the basic Cardano product's functionality. Most significantly, adding a multi-currency ledger would make Cardano more useful by enabling users to create new, natively supported tokens. By allowing the creation of both fungible and non-fungible tokens, the Cardano platform will be able to support the development of new cryptocurrencies and tokenize a wide range of digital and physical assets.