• 19 June, 2024
News

How Vasil Hard Fork Postponement Affected ADA

Cardano’s (ADA) much-anticipated Vasil hard fork has been postponed yet again for a few weeks as the smart contract platform’s native token had a momentary green price movement. At the time of this writing, however, the value of the ADA token has dropped by 6% in the last twenty-four hours, down 2% in the past one hour, and it is now worth $0.4. Could the delay have anything to do with the price drop?

Cardano (ADA) trade volumes have also been decreasing in the past 24 hours and there has been a reduction in Cardano’s social media engagement, particularly tweet volumes. The pessimistic outlook held by investors in ADA, which is partially responsible for the current low prices, has persisted, as seen by the decline in interest from them.

It is anticipated that the Vasil hard fork would result in a significant increase in both the scalability and performance of the Cardano network. The IOHK stated last month that there were no significant issues, however, there were still seven flaws. In addition, there were certain tests conducted to guarantee that everything would function as intended.

Input Output Global (IOG) said that it was working on a new node version 1.35.2 in its most recent weekly assessment report, which was sent out the previous week. During the testing of Vasil, earlier node versions included a number of issues that will be addressed and improved upon by the new version, according to the report.

Furthermore, it was stated that the Plutus V2 cost model had been temporarily withdrawn from the Cardano testnet in order to thoroughly evaluate a possible problem that had been brought up by the Cardano community.

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