Cardano Vasil Upgrade Cuts Gas Fees by Nearly 50% and Transaction Space by 10x: ADA Decentralized Exchange
The post Cardano Vasil Upgrade Cuts Gas Fees by Nearly 50% and Transaction Space by 10x: ADA Decentralized Exchange appeared on BitcoinEthereumNews.com. Cardano (ADA)‘s Vasil hard fork has had a dramatic impact on the network’s efficiency, according to a...
Cardano (ADA)‘s Vasil hard fork has had a dramatic impact on the network’s efficiency, according to a decentralized exchange (DEX).
MuesliSwap, a DEX built for Cardano, says the upgrade has reduced transaction sizes from 14.73kB to 1.31kB, and gas fees from 1.44 ADA to 0.73 ADA.
Cardano creator Charles Hoskinson touts the numbers quoted by the exchange.
“10x savings on space at half the cost. I call that innovation.”
The Vasil hard fork was designed to increase the scalability of the Cardano network. It went live on September 22nd.
Explains Cardano development team Input Output Hong Kong (IOHK),
“The Vasil upgrade will bring significant performance & capability enhancements to Cardano, from higher throughput capability via diffusion pipelining to a better developer experience with much-improved script performance, efficiency & lower costs.”
IOHK also notes that “Plutus V2 functionality” became available for developers on Cardano’s mainnet on September 27th.
“DApps [decentralized applications] utilizing new Plutus V2 scripts & cost model are already seeing the power of Vasil upgrade. New Plutus V2 features and enhancements enable DApp developers to create novel and exciting experiences, while diffusion pipelining unlocks the potential for greater throughput and network capacity.”
ADA is trading at $0.437344 at time of writing. The 8th-ranked crypto asset by market cap is down 0.6% in the past 24 hours.
 
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Featured Image: Shutterstock/Zaleman
Source: https://dailyhodl.com/2022/09/30/cardano-vasil-upgrade-cuts-gas-fees-by-nearly-50-and-transaction-space-by-10x-ada-decentralized-exchange/
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