Cardano’s much-anticipated Vasil upgrade is going to take place on 22 September 2022, IOHK’s Twitter handle revealed. IOHK is the technology company behind the Cardano ecosystem.
The Vasil upgrade aims to make the Cardano ecosystem more scalable while keeping the transaction costs low. The upgrade has been in the offing for a while now but was being stalled due to system bugs.
The delays have heightened the excitement about Vasil, so the latest announcement is giving Cardano supporters much to cheer about.
The blockchain network’s announcement comes days after the date of another heavily anticipated upgrade—Ethereum’s Merge—was announced.
How does Vasil change things for Cardano?
In addition to improving the network capacity and lower transaction costs, the upgrade is expected to help developers build better dApps on Cardano, as per IOHK’s tweets. It is supposed to enhance its smart contract capabilities, which were launched in 2021 with the Alonzo hard fork.
With nearly 1,000+ projects being developed on Cardano, the Vasil upgrade or hard fork is expected to be a game-changer for the ecosystem.
What does the development mean for investors?
ADA, Cardano’s native token, has responded positively to this development and is up by over 10% over the past week.
September is known for being one of the most volatile months for crypto. The chart below uses historical data to show that September has been a particularly volatile month for crypto, since 2013. (Bitcoin is used as a reference due to its market dominance.) Some investors are therefore naturally skeptical about the impact of the upcoming upgrade on ADA’s price action.
Source: Coinglass
Although these are valid concerns, it may help to remember that every other major Cardano upgrade has resulted in a near-term price surge at ADA’s counter. That said, DYOR is advised.
FAQs
What upgrade did the Vasil Hardfork add for its user?
If “Vasil Hardfork” refers to a recent upgrade on a specific blockchain or cryptocurrency project, I recommend checking the official channels and documentation of that project for the most accurate and up-to-date information. This could include the official website, blog posts, technical documentation, or announcements from the development team.
How fast is Cardano after Vasil?
In general, the speed or performance of a blockchain network can be influenced by various factors, including protocol upgrades, optimizations, and network enhancements. Cardano, being a proof-of-stake blockchain, has been designed with scalability and performance in mind.
How high can Cardano go 2023?
Predicting the future price movements of cryptocurrencies, including Cardano (ADA), is highly speculative and involves various factors, including market sentiment, adoption, regulatory developments, technological advancements, and macroeconomic trends. It’s important to note that the cryptocurrency market is known for its volatility, and prices can be influenced by a wide range of factors.
Is it too late to invest in Cardano?
It’s important to note that past performance is not indicative of future results, and the cryptocurrency market can be unpredictable. Before making any investment decisions, it’s advisable to conduct thorough research, potentially seek advice from financial professionals, and only invest what you can afford to lose.
