2 more days until big Cardano update, what will this do?
We wrote about it more than once this week; the Vasil update from Cardano (ADA). This Thursday, September 22, the so-called hard fork finally implemented... The post 2 more days until big Cardano update, what will this do? appeared...
We wrote about it more than once this week; the Vasil update from Cardano (ADA). This Thursday, September 22, the so-called hard fork finally implemented after several months of delay. We summarize the main points again.
What will change about Cardano?
According to the developers of the Cardano network, the Vasil update the biggest and most important update since the birth of Cardano. The update will ensure that transactions on Cardano are processed even faster. The cost per transaction will also drop significantly with the update.
Pipelining is eand of the changes that the Vasil update will bring. Pipelining will make blocks connect faster follow up within the blockchain. This will enhance the scalability and thus the applicability of the Cardano network.
Applicability is one of Cardano’s main priorities. Recently, Cardano co-founder Charles Hoskinson spoke out about the network’s long-term goals; they want to become the global financial operating system of the future. An ambitious plan. But the Vasil update should bring Cardano one step closer, Hoskinson said.
Also, the update will be a major upgrade for plutus script contain. Plutus is the programming language used for the smart contracts on the Cardano blockchain. Programs built on the Cardano network also use this programming language. Plutus was introduced during the previous major update of the Cardano network, Alonzo, in September last year.
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More ADA holders, good for price?
The native token of the Cardano network is ADA. In anticipation of the big Vasil update, we see that the number of ADA holders has increased in recent months. The number of addresses holding between 10,000 and 100,000 ADA has increased by 7% in the past three months. The large ADA owners with between 100,000 and 1 million ADA tokens have also grown by 2%. Despite a sharp fall in ADA’s share price over the past few months, we see a return of cautious optimism among ADA holders. Whether the price will respond positively to the update remains to be seen. That expectation also existed last week for the ‘merge’ of Ethereum (ETH).
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