Cryptocurrency: Cardano (ADA) and the Vasil update

In a video posted to his channel on April 12. Charles Hoskinson, the founder of the Cardano cryptocurrency, explains the new update from Vasil Hardfork. This is a video summarizing and explaining the recent update that will optimize Cardano after the hardfork “Vasil”.

The Cardano ecosystem is growing

Cardano with the hardfork Vasil

At the start of the video, Charles Hoskinson said he was preparing for the upcoming Consensus 2022, which will be held June 9-12 in Austin, Texas. Its goal being to show the crypto community as well as Cardano enthusiasts that IOHK and the Cardano development team are “ open for business “.

We’re here, and we’re doing our best to get people to set up booths and talk. Of course, we will also organize a special event for the Cardano blockchain.. »

What changes can be made by the hardfork Vasil? Other than that, Hoskinson said the hardfork Vasil, who takes his name in honor of his late friend and ambassador of the Cardano foundation Vasil DABOV, will be held in June. This one will bring a significant improvement in the performance of the Cardano network “.

As many know, a major event in hardforkwill take place in June. It is in fact thehardfork Vasil, who is a mainstay in keeping Cardano scalable. This should induce a huge improvement in the performance of Cardano . » This new hardfork would bring a number of scaling and scalability improvements, namely ” the pipeliningUTXO disk storage, new Plutus CIPs as well asHydra “.

Combined with parameter tweaks, these functions optimize Cardano’s throughput as well as the blockchain system to cater to a growing range of decentralized finance DeFi, DEX and smart contracts. This is the opportunity for the network to further open up the possibilities of integrating financial solutions or decentralized exchanges.

New products for users

Apart from these changes, the Cardano teams are trying to offer new products and improved features to their users. This includes in particular the store of decentralized applications (DApps), the new light wallet, as well as bridges offering the possibility of transferring assets from the main chain of layer 1, to separate side chains.

Thoseside chainswill result in the creation of decentralized exchanges where users will be able to trade ADA for BTC and vice versa. This thanks to incorruptible smart contracts, eliminating any risk of fraud. According to Charles Hoskinson, the Cardano team has around 100 engineers working again on “extremely aggressive deadlines“.

When you listen to the crypto media and reviews of Cardano, they seem to insinuate that Cardano does not exist. This is only a prepared deception and nothing has been built or accomplished.This bodes well for the Cardano project which aims to perform within the cryptocurrency market.

Conclusion

Charles Hoskinson claimed that on May 17-18, a team of developers from Cardano and third-party organizations will gather in Barcelona. The objective of the meeting being to talk about the levels of interaction between smart contracts. As well as seeing in detail the accreditation process of the various portfolios as well as the project infrastructure. As a founder, Hoskinson tries to provide universal solutions that not only scratch the surface of the problem, but solve it in depth.

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Emile Stantina

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Cryptocurrency: Cardano (ADA) and the Vasil update


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