Cardano’s price jumps before imminent Vasil hard fork

Must read

California fraud cases highlight the need for a regulatory crackdown on crypto

The California Department of Financial Protection and Innovation (DFPI) announced last month that it had issued desist and refrain orders to 11 entities for...

Putin gives Snowden citizenship, Interpol elicits help in Do Kwon search and FTX US buys Voyager: Hodler’s Digest, Sept. 25-Oct. 1

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption...

NFT space bridges passions for tennis legend Maria Sharapova

Tennis legend Maria Sharapova appeared at the Binance Blockchain Week Paris 2022 to share her interest in nonfungible tokens (NFTs).During an exclusive interview with...

What is the economic impact of cryptocurrencies?

<div :i18n="{"back_to_top":"Back to top","sponsored":"Sponsored","blockshow_promo_text":"","by":"By","editor":"Editor's choice","go_to_flashnews_cat":"","press_release_badge":"Press release","press_releases":"Press Releases","press_releases_hide_items":"Hide","press_releases_load_more":"Load more","load_more":"Load more articles","loading":"Loading","paid":"This publication is sponsored.","comments":"Comments","youtubeBannerButtonLabel":"Subscribe","youtubeBannerChannelUrl":"https://www.youtube.com/user/cointelegraph","youtubeBannerHeadlineAlt":"Cointelegraph on Youtube","hot":"Hot stories","pr_description":"Cointelegraph does not...

Cardano’s price jumps before imminent Vasil hard fork Cardano’s price jumps before imminent Vasil hard fork Oluwapelumi Adejumo · 2 hours ago · 2 min read

The various capabilities that Vasil would bring to the blockchain will only become available to developers on September 27.

2 min read

Updated: September 21, 2022 at 5:05 pm

Cardano’s price jumps before imminent Vasil hard fork

Cover art/illustration via CryptoSlate

Xeggex

With Cardano’s Vasil hard fork set to go live on Sept. 22, the blockchain network’s native token has spiked by 2.1% within the last 24 hours to $0.45.

ADA had been on a red run on the seven days metrics as it shed 3% of its value, trading for as low as $0.43 during this period.

Vasil upgrade

Input Output wrote that the Vasil upgrade would usher in significant improvement to the network.

According to the crypto company, the upgrade will optimize the Ouroboros’ Verifiable Random Function (VRF) process resulting in faster block validation, better security, and improved smart contract capabilities.

Meanwhile, the various capabilities that Vasil would bring to the blockchain will only become available to developers on September 27.

The Vasil upgrade is the most significant event in the Cardano ecosystem and was initially scheduled for July. However, bug concerns, alongside other issues, led to the delay of the upgrade.

The upgrade is happening during the same month as the network’s fifth anniversary.

Dapps and exchanges express readiness for Vasil

Crypto cold wallet maker Ledger tweeted that it is ready and expects “no downtime” to its services.

According to updates from Input Output, 99% of Cardano’s mainnet blocks are created by the Vasil node 1.35.3. Apart from that, top Cardano dApps have confirmed their readiness for the upgrade.

Among the top 12 exchanges providing liquidity to the ecosystem, Coinbase is the only exchange whose readiness for the upgrade is “still in progress.”

Cardano’s upgrade draws community excitement

Cardano’s planned upgrade has increased social media chatter about the network, according to Santiment data.

📉 #Crypto markets have obviously taken a big hit over the past week, but it’s interesting to see where social interests have shifted. $ETH, $XRP, $ADA, $MATIC, and $SHIB have increased in discussions, while most other assets are being discussed far less. https://t.co/B461oasvSr pic.twitter.com/c6FVIS90gG

— Santiment (@santimentfeed) September 19, 2022

Santiment stated that social interest in Cardano rose by 35.16% over the last seven days.

Cardano blockchain has achieved several milestones this year, from passing the 3000 smart contracts milestones to developing several stablecoin platforms, among other novel improvements.

Staked Cardano beat rivals

Cardano is now the third-largest proof-of-stake blockchain network in native asset staking. According to a tweet from Cardano Daily, the Charles Hoskinson-led network has beaten Binance Chain, Avalanche (AVAX), and Polkadot (DOT).

NATIVE TOKENS STAKING BETWEEN BLOCKCHAINS

 

With regards to POS blockchain in the crypto environment, the @Cardano blockchain ranked the 3rd with $11.49B staked in the network!

 #cardano #vasil #staking pic.twitter.com/ee357RwF2B

— Cardano Daily (@cardano_daily) September 21, 2022

The data showed that staked Cardano’s value is currently at $11.49 billion, behind that of Solana (SOL) and Ethereum (ETH).

More articles

Latest article

California fraud cases highlight the need for a regulatory crackdown on crypto

The California Department of Financial Protection and Innovation (DFPI) announced last month that it had issued desist and refrain orders to 11 entities for...

Putin gives Snowden citizenship, Interpol elicits help in Do Kwon search and FTX US buys Voyager: Hodler’s Digest, Sept. 25-Oct. 1

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption...

NFT space bridges passions for tennis legend Maria Sharapova

Tennis legend Maria Sharapova appeared at the Binance Blockchain Week Paris 2022 to share her interest in nonfungible tokens (NFTs).During an exclusive interview with...

What is the economic impact of cryptocurrencies?

<div :i18n="{"back_to_top":"Back to top","sponsored":"Sponsored","blockshow_promo_text":"","by":"By","editor":"Editor's choice","go_to_flashnews_cat":"","press_release_badge":"Press release","press_releases":"Press Releases","press_releases_hide_items":"Hide","press_releases_load_more":"Load more","load_more":"Load more articles","loading":"Loading","paid":"This publication is sponsored.","comments":"Comments","youtubeBannerButtonLabel":"Subscribe","youtubeBannerChannelUrl":"https://www.youtube.com/user/cointelegraph","youtubeBannerHeadlineAlt":"Cointelegraph on Youtube","hot":"Hot stories","pr_description":"Cointelegraph does not...

What is wrapped Ethereum (wETH) and how does it work?

Traders who use the Ethereum network are familiar with the ERC-20 technical standard and have most likely traded and invested in tokens that utilize...