Cardano’s Vasil Hard Fork continues to be scheduled for June 29

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2022-05-19 08:57:29

Despite the bad news from the market, Cardano founder Charles Hoskinson announced that the platform’s Hard Fork Vasil event will continue as planned.

Cardano’s Vasil Hard Fork Event Still Going As Planned

Hoskinson has expressed positive expectations about the upcoming Vasil Hard Fork upgrade scheduled for June 29. He said it could provide a “major performance improvement for Cardano” and its smart contract mechanism. The public testing phase that will coordinate with dApps to test applications on the testnet and mainnet could begin at the end of May.

Vasil will introduce four different CIPs: CIP-31 (Reference Input), CIP-32 (Inline Data), CIP-33 (Reference Script) and CIP-40 (Collateral Output) . The integration of UTXO HD, which focuses on inspection and resolution, is also underway. Cardano says it has re-deployed 8 IOG nodes to the P2P test network and added 51 pre-registered SPOs to evaluate testnet performance and share feedback.

In Week, Cardano announced a new release of the Daedalus wallet – Daedalus 4.10.0 with improved display of unnamed native tokens and added support for the Windows development environment, as well as fixing the pairing issue for Ledger. Nano S on Windows. The same week, the Hydra team rolled out the 0.5.0 release.

IOHK has also shared statistics regarding the growth of the network. Currently, 937 projects are being built on Cardano, up from 925 projects previously. 84 projects were recently launched on Cardano, while the number of NFT projects reached 5,549. During the week, Github connections totaled 2,609, while the ADA native token grew to 4.7 million.

See also: The first week of May is on fire of the cryptocurrency market

ADA is trading at $0.56, down 29% from its value 7 days ago. With more updates coming, ADA’s recovery is expected to be swift. In fact, its market cap fell only 0.05% and hit $18.2 billion. Notably, fixing the network update date did not have a significant impact on the daily trading volume. The main impacts are from the downtrend of the whole market.

ADA price chart May 16 on Coinmarketcap

While there isn’t a significant difference in market capitalization, the data from Santiment highlights an increase in whale activity. As of May 14, a total of 238 transactions over $100,000 have been completed. The same goes for transactions over 1 million USD.

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