The Cardano network (ADA) received another successful update on Thursday (22). This is the Vasil hard fork, long awaited by network investors and developers. All in all, Vasil had a similar expectation to The Merge on Ethereum. But unlike this update, Vasil doesn’t change the consensus algorithm. Instead, Vasil will bring Cardano greater network capacity and faster, but low-cost transactions. Along with the update, the ADA saw a steady increase in value in the hours before the update was released. The appreciation continued this Friday (23), as the ADA is worth R$ 2.33, an increase of 1.57% in the last 24 hours. The name Vasil is named after the late artist and ADA Ambassador Vasil Stoyanov Dabov. Dabov died in December 2021 after a pulmonary embolism, but he received a simple tribute in the new update.
What changes with Vasil?
In addition to increasing Cardano’s transaction capacity, one of Vasil’s most significant changes is the rapid creation of blocks. In other words, Cardano will take longer to produce new blocks. As a result, blockchain will be much more efficient in terms of speed of operation. Vasil also brings the second version of Cardano’s scripting language, called Plutus v2. According to Input Output (IOHK), the organization responsible for Cardano, the large traffic is likely to slow down Cardano during the update’s business hours. This did indeed happen, with some transactions taking longer than usual. However, the team at IOHK rated the update as “smooth” without any major flaws. But in the coming days, the group of developers intends to analyze the network to avoid problems. Therefore, the full capacity of Vasil will be available from September 27th, according to the developers. Most major cryptocurrency exchanges support the Cardano Vasil update. In this group are the Binance, Crypto.com and Gate.io platforms.
Delays marked launch
The launch of Vasil marks a long-awaited success for the team. The update, which was supposed to take place in July, suffered many delays due to test problems. However, the developers finally got it all sorted out for the update. Charles Hoskinson, founder of IOHK, celebrated the launch and took the opportunity to snipe some of the media. Sharing a news story from The Block about the launch of Vasil, Hoskinson said: “We’ve just completed a major milestone that required coordination and testing from people and companies around the world, but the news is ‘three-month delay’? Journalists always say who they are.” criticized. At the time of writing, an ADA is worth R$2.33, according to CoinGecko. Cryptocurrency may see a slight increase in days after Vasil update. Unless you suffer from a “sell the hype” scenario, as happened with Ether (ETH) after The Merge. Read also: GitHub restores Tornado Cash code in ‘read-only’ mode Read also: Users log more than 108 million km traveled with STEPN Also read: 6 cryptocurrencies that jumped up to 35% in the last week
