One project that has a big development milestone coming up is Cardano ADA. So will a successful Vasil hard fork deployment pump the price of ADA?
Well people we may be up to our necks in a bear market. But that doesn’t mean crypto has ground to a halt away from all the falling knives and frozen withdrawals. There is still development going on in crypto projects. One project that has a big development milestone coming up is Cardano.
So let’s find out what the Vasil hard fork is all about? Why it’s important and what does Vasil hard fork mean for one of the most popular crypto projects out there? Now the last major upgrade to Cardano was the Alonso hard fork combinator. Which took place last September and introduced smart contract functionality to the network. This was a hugely anticipated moment. Because it meant that apps could finally start deploying on Cardano and the community could start using them. All eyes were on an ADA moonshot.
Well, Alonso turned out to be a bit of a disappointment. Dapps did indeed start launching on Cardano and people did indeed start using them. But it was a frustrating experience.
Let’s just say that Cardano’s extended UTXO model. Made it difficult for its blockchain to process all the smart contract transactions that were streaming in from all the ADA holders. Who was itching to dabble with its dapps? This transaction stress ultimately brought the Cardano blockchain to a crawl and many users were reporting speeds as low as two transactions per second.
I personally remember testing out the Sunday swap decks and boy was it slow. So put simply Cardano collapsed under its own success. Too many people waiting to use it when it wasn’t fully ready to be used. Ada’s price has been declining ever since though to be fair so has the whole crypto market. Anyhow in contrast to Alonso, the Vasil hard fork combinator is mainly focused on scaling. That is making Cardano faster and easier to use.
Four Cardano improvement proposals or sips will be implemented which are honestly a bit complex. But they will all improve Cardano’s scalability speed by what will hopefully be a noticeable amount.
Assuming all goes to plan Cardano should become better for both users and developers alike. Now vassal deployed on Cardano’s test net on Sunday night and the devs will now be keeping a close lookout for any problems. If it all goes smoothly then we could see a main net launch at the end of July.
So will a successful Vasil hard fork deployment pump the price of ADA? Well quite possibly but recall what happened with Alonso. When that hard fork hit the mouth of ADA holders many of them decided to spit rather than swallow and ADA price took a sharp dive.
Now the same thing could happen this time you’re. You might be wondering whether it will take ADA to the moon in the long term.
However, I would say yes if it increases Cardano’s speed in a way that’s noticeable to the users of its dapps. If the vassal doesn’t deliver this degree of scalability don’t get too down about it though. There are additional scaling solutions in the works such as hydra that will hopefully be rolling out in the coming months. For now, however, the sad fact of the matter is that bullish developments don’t count for much when conditions are this bearish.
In all likelihood, even a successful vassal deployment of Ethereum merge spot bitcoin ETF approval and the formation of a superpowered justice league featuring Charles Hoskinson Vitalik, Elon Musk, Satoshi and the dog from the doge meme couldn’t pull the crypto market out of the doldrums just yet. But vassal going to plan will be a big step for Cardano and it will suggest that it could be ready to live up to its amazing potential so watch this space.