Cardano Set To Complete Vasil Upgrade, Meeting All 'Critical Mass Indications'
Cardano Vasil Upgrade
Modified Date:- Published Date:-Categories: Cryptocurrency
Cardano Set ToComplete Vasil Upgrade, Meeting All 'Critical Mass Indications'
Coinbase‘Integrated’ According to IOHK
Input OutputHong Kong (IOHK) posted an update on Wednesday stating that 13cryptocurrency exchanges, encompassing more than 87% of Cardano’s (ADA)liquidity, had certified their preparedness for the hard fork only within theprevious 48 hours.
According toan ecosystem preparation website by IOHK, among the leading platformsfor ADA liquidity, Coinbase is the only one that has an integration status 'inprocess'. However, Coinbase tweeted that it would embrace the fork, addingthat ADA operations would be suspended. Cardano during Vasil hard fork.
The rolloutof the Vassil upgrade was originally scheduled for June, but was postponedtwice, most recently due to a flaw in Cardano's previous node versionthat caused interoperability issues. Social media discussion about ADA hasincreased by 35.16% over the past seven days starting Monday due to reports ofthe upgrade coming third after Ripple and Ethereum, according to marketintelligence platform Sentiment.
ThisWill Be History in the Making
When it goesonline, the update will be the most significant development in the blockchainsince the Alonzo hard fork last September, which enabled the first functioningof smart contracts. The upgrade aims to improve smart contracts, reduce costs,and improve network performance. According to IOHK, faster block production isone of the most significant improvements to forks, as they can send blockswithout full authentication.
The lateartist and Cardano ambassador Vasil Stoyanov Dabov, who died suddenly inDecember 2021 from a pulmonary embolism, is honored with the moniker ‘Vasil’ inthe upgrade.The price of ADA is now $0.44, down 3.4% from the previous day andmore than 85% from its all-time high of $3.09 set on September 2, 2021.
Cardano (ADA) is likely to complete its Vasil upgrade, meeting all “critical mass” indications, due to a favourable market environment.