Cardano: Vasil's latest fork improvements make holders more confident
Cardano [ADA] demand, from institutional or retail investors, seems to be increasing since the start of the year.
Well, despite the bearish trend, institutional investors have shown interest in altcoin investment products as reported by CoinShares. Thus providing exposure to Cardano [ADA] and other tokens.
But the question is- can ADA repeat the same love with these investors?
Self-support
Cardano blockchain hard fork upgrade, Vasil is scheduled for mainnet on September 22nd, according to the announcement on Twitter by Cardano developer and Input Output operator Global's (IOG) over the weekend.
Needless to say, until then, the team has added various updates to keep the critics in check.
The latest update shows the 'Hard-Fork Improvement' from Vasil to incorporate/enhance Cardano's capabilities as highlighted by the team at the Cardano Foundation. The aforementioned upgrade is named after the late Bulgarian community member Vasil St. Dabov, who served as the Chief Blockchain Advisor at software company R&P; D Quanterall before his death in December 2021.
Throughput, instruction set efficiency and block transfer times will be improved due to the upgrade, which also uses the hard fork hybrid technology ( HFC) by Cardano.
In this regard, the blog added,
“The authorization parameter — or the d parameter — will be deleted, thus preventing re-association. This upgrade will also introduce changes that enhance the ability to process scripts on-chain (Plutus), thereby reducing script execution costs, transaction size, and improving throughput.”
Indeed, the most ambitious update initiative for the Cardano network.
Do traders/investors love this development? According to Santiment's trading volume data, ADA's trading volume on September 7 increased to over 850 million.
Source: Santiment
The spike shows that traders/investors have jumped into this group to show their support.
Meanwhile, Cardano ranks in the top three most actively developed projects of the week, with 490 contributions on Github. While the development activity has little or no impact on the market price in the short term, it can be a positive sign for the long term development of the project.
All that remains is…
At the time of writing, ADA's struggle continues to haunt its holders as ADA consolidates around $0.45. When can it break through the resistance zone?
While critics continue to criticize the network for its slow development, some analysts have given their support by saying that the price of the Cardano smart contract platform [ADA] ] may soon increase.
Sep 08, 2022
