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The most anticipated upgrade on the Cardano network, the Vasil Upgrade has been surrounded by condemnation even before its launch
Cardano (ADA) is undoubtedly one of the major blockchain networks across the industry, and its native cryptocurrency ADA holds position within top ten cryptocurrencies, having more than $15.66 billion worth of market cap. These facts are clear to everyone and perhaps you might know them already, but this is important to know about Cardano’s position within the space. This would help to understand its value, it’s worth and how it becomes a crucial matter when anything happens on or related to the Cardano network.
Updates and upgrades are the nature of technology and its aspects that let them be relevant and prone to become outdated. Blockchain networks also require updates that are generally termed as hard forks.
For instance, in the case of the Cardano network, it had compatibility with smart contracts after the Alonzo upgrade. Now, the so-called Ethereum killer is seeking to launch its yet another most anticipated Vasil hard fork.
However, part of the crypto community does not seem to be happy with the Vasil hard fork and put their concerns on Twitter. On Wednesday, there were claims made by several Twitter users that the current smart contracts on Cardano are not compatible enough with the upcoming Vasil hard fork. So, they demanded the Cardano developers team to write the smart contracts codes again from scratch.
Given the warmth of these issues, Cardano’s team responded quickly. Vice President at Input Output’s community and ecosystem, Tim Harrison, quickly took over and resisted the rumours.
He tried to convince distressed Cardano users there is nothing to worry about as the existing decentralized applications, deployed using the smart contracts based on Plutus, will be compatible even with the Vasil Upgrade. Harrison said that this would only be going to benefit the developers as it will enable them to make use of the elevated features that Plutus v2 is offering.
Later, by Thursday, the CEO of Input Output and founder of Cardano, Charles Hoskinson himself, looked into the matter and showed up on Twitter to clarify the issues. He denied any possibility of fear, uncertainty and doubt (FUD) that could be posed by the Vasil hard fork.
Hoskinson ensured that the smart contracts on the Cardano blockchain would function the same as they were doing earlier, even after the most anticipated Vasil hard fork.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
