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Popular Ethereum killer, Cardano network recently witnessed its latest upgrade—Vasil hard fork. The smart contract network anticipated the upgrade to bring crucial enhancements over Cardano’s blockchain. Apparently, such upgrades by default makes the respective crypto assets prices jump. However, native asset of Cardano—ADA token—did not show any significant gain to make the news.
In the meantime, the Vasil upgrade on Cardano (ADA) is not the only upgrade that took place on a network. Ethereum (ETH) network also saw the launch of the much awaited upgrade—The Merge—which took place last month itself. The merge upgrade on Ethereum is considered as the biggest event of an upgrade on any network. Given the intensity of Cardano’s Vasil hard fork, it is also said to be among the biggest upgrade events—followed by the Merge.
Cardano (ADA) emerged as the potential blockchain network since its launch back in 2017. The popularity of Cardano network led to the huge adoption of the network following its smart contracts compatibility. The Alonzo hard fork made the network smart contracts enabled. The upgrade on Cardano network resulted in pumping its native asset ADA token, enough that it made all over the news.
In September, 2021, Alonzo hard fork took place and around the same time, Cardano’s ADA token price soared and it attained an all time high of 3.10 USD.
Almost every blockchain needs to go through continuous upgrades and Cardano (ADA) is no exception. Every time an upgrade hits, it brings optimal and crucial features to the network. The Vasil hard fork is important for Cardano in terms of extending its already present specifications. Following the smart contracts compatibility, there were numerous decentralized applications projects developed over the Plutus smart contract of Cardano.
Growing number of projects demands more transaction speed, scalability and low gas fees to some extent. Vasil hard fork is to mitigate these challenges altogether. Such as several Cardano Improvement Proposals (CIPs)—CIP-31, CIP-32 and CIP-33—expected to bring features like new reference input, on-chain storage and making the programming script somewhat lighter.
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.
