Both the Merge and the Vasil hard fork were eagerly awaited by the cryptocurrency community. While the Cardano ecosystem was still working to deploy the Vasil upgrade, the Ethereum network had just finished up and launched the Merge.
It should be noted that this improvement was originally planned to happen in July. The Vasil hard fork was scheduled to occur on 22 September 2022, after a delay. The Vasil upgrade, however, kept to its word and went live without any issues.
Today, the world saw the official launch of the Cardano Vasil Hard Fork update. The update has been eagerly anticipated by ADA holders and users of the Cardano Blockchain.
Cardano will enhance network capacity and provide faster but less expensive transactions with the hard fork upgrade. In the hours leading up to the upgrade going live, ADA’s value steadily increased.
Fast block construction is another of the upgrade’s most significant enhancements. The Cardano blockchain will become considerably more effective as a result. The Plutus v2 programming language for Cardano is also a part of the Vasil upgrade. Vasil Stoyanov Dabov, an artist and ADA ambassador, is remembered by the name “Vasil” upgrade. In December 2021, Dabov passed dead from a pulmonary embolism.
Extensive traffic to slow down Cardano network
Input Output, engineers that worked on the upgrade, predicts that heavy traffic may impede Cardano during the upgrade’s initial hours. “Transition should be smooth,” nevertheless. On September 27, full Vasil functionality will be accessible, according to the creators. According to Input Output, the Plutus V2 pricing model will be activated along with the complete capabilities, resulting in decreased transaction costs for smart contracts.
The majority of the main cryptocurrency exchanges back the Cardano Vasil update. Binance, Crypto.com, and Gate.io are examples of these. The upgrade’s deployment was repeatedly postponed beyond an initial target date of earlier this summer. However, all of the bugs and tests for the upgrade have now been worked out by the engineers.
According to CoinMarketCap, the price of ADA is $0.4734 at the time of writing. In the days following the Vasil upgrade, the coin can experience a modest increase, unless it falls victim to a “sell the hype” scenario as Ethereum did with its move to PoS last week, that is.