Cardano Creator: Terra (LUNA) Collapse Has Prompted a Change in Cardano’s Vasil Upgrade

Charles Hoskinson, the creator of Cardano, the largest proof-of-stake (PoS) blockchain, has recently revealed that the historic collapse of Terra (LUNA) is currently initiating a change in the Cardano (ADA) development.

In a recent video, Hoskinson pointed out that the notable crash of the Terra blockchain’s algorithmic stablecoin TerraUSD (UST) has prompted Cardano developers to be more careful on the implementation of the Vasil hard fork.

Read Also: Buterin Explains How to Create Algorithmic Stablecoins That Don’t Become Ponzis or Collapse

Charles Hoskinson noted:

“Our engineers are deep in the weeds right now and working real hard on Vasil. A massive amount to do, a huge amount of testing to do.

“After the collapse of LUNA, we decided to add an additional test harness to what we’re doing and think really carefully about some things. It’s taking a bit more time but we figured that the abundance of caution is well rewarded these days.”

It should be noted that Vasil hard fork is an upgrade that aims at increasing the scalability of the Cardano network and boosting the functionality of Plutus, Cardano’s smart contract platform. The Vasil hard fork combinator event is slated to play out in late June.

Hoskinson also commented on the recently introduced crypto regulation bill by Senators Cynthia Lummis and Kirsten Gillibrand, which seeks to provide regulatory clarity for digital assets, tax crypto assets responsibly and protect consumers.

Read Also: Hoskinson Hits Back At Luna Founder for Making Negative Comment about Cardano (ADA)