The Update Process Begins
The blockchain development company behind Cardano (ADA), Input-Output Hong Kong (IOHK) has confirmed the Vasil hard fork’s launch date. This is going to happen on September 22. This is not something most developers would have thought. A large majority of cryptocurrency exchanges throughout the world have already started updating their nodes so that they can handle the most recent hard split. The company anticipates a flawless technological transfer, without an interruption in block creation or any impact on its consumers.
Most prestigious exchanges have now begun their upgrade process. A lot of developers have confidence that they will finish their upgrades and reach the 80% liquidity target set based on their trajectory and final performance. Additionally, the update will make it possible for programmers to use Plutus, the Cardano blockchain’s smart contract platform, to construct blockchain-based apps in a more powerful and efficient way.
ADA may Reverse its Negative Trend
At first, Vasil was going to be launched around the end of July. But it’s a natural law, things always don’t go as predicted. So, eventually constructing the fork got introduced to so many obstacles that the developers had to push the Vasil for a couple of months. This push-back has created a lot of trust issues in the minds and hearts of developers. Adam Dean, on his Twitter, stated that the Testnet is catastrophically broken. When asked about this, Cardano Founder, Charles Hoskinson plainly denied the statement.
Although it’s possible that ADA may reverse its significant negative trend, it’s also crucial to keep in mind that the currency has been trading sideways since May, bouncing mostly between $0.42 and $0.6, with minor exceptions. ADA is now trading quite close to the channel’s support at $0.457. Perhaps not enough attention has been paid to Cardano’s developers and the ADA price charts because Vasil is slated to take place one week after the Ethereum Merge.
Source: https://www.thecoinrepublic.com/2022/09/04/finally-the-cardano-vasil-hard-fork-is-launching/