Hi Community,
I had seen that on another blockchain. When there is a big update(hark fork), the user needs to swap the coin and tokens to the new chain which I think is super weird and troublesome.
Observed Scenario
For eg, you have x amount of coin and tokens in blockchain A. From time to time, the system needs to update/upgrade. Same applied to the blockchain as well. Over our current market, the way that they solved this problem is create a new chain called blockchain A and turn the old chain into blockchain A - Classic/Old. Then, daap need to recreate the token over new blockchain A and allow all their user to swap token from old blockchain to new blockchain.
Problem
Developer/User
It getting super troublesome for dapp developer and users. Because whenever there is an big update. They need to do a swapping.
Blockchain Perspective
Not dare to have frequent updates because the process will affect a lot of people. (This is really bad for blockchain improvement).
Question
What about Cardano? Is Cardano using the same approach or a better approach? Anyone is feel free to comment and give some insight. Cheers. 