Days left to Cardano Vasil Hard Fork upgrade: What will it do?

Days left to Cardano Vasil Hard Fork upgrade: What will it do?

Created on the Cardano blockchain, ADA is currently the eighth largest cryptocurrency by market cap. Developed by Charles Hoskinson, one of the founders of the Ethereum blockchain, the network is based on the ‘proof of stake (PoS)’ model. The ‘Vasil’ hard fork upgrade, which is expected to significantly change the throughput, transaction speed and fees on the Cardano blockchain, has been eagerly awaited by crypto enthusiasts for a long time. The ‘Vasil’ hard fork upgrade, which is expected to take place on September 22, is gearing up to improve the performance of the Cardano network.

According to the transferred details; Cardano blockchain contains data such as transaction records. Validators continuously validate this data, making it possible to keep the Cardano network decentralized and secure. The network, which is constantly updated, rewards validators with ADA assets. Because Cardano is completely decentralized, anyone can join the network and help secure the network.

But as the Cardano blockchain grows, there are ‘hard fork’ upgrades to make the network much safer and better for users. ‘Hard fork’ upgrades make improvements to the blockchain or can radically change the existing blockchain.

What is Vasil hard fork?

Radical changes to a blockchain’s protocol are known as a ‘hard fork’. ‘Hard forks’ make a permanent difference to the blockchain compared to the previous version of the network. Therefore, such upgrades are closely followed by active users of the blockchain. The ‘Vasil’ hard fork is seen as an important upgrade that is expected to be realized since July.

What will Cardano Vasil hard fork do?

The Cardano Vasil hard fork upgrade is expected to cause 3 main changes to the blockchain:

1) Transaction fees

The ‘Vasil’ hard fork will reduce transaction sizes on the Cardano network. In this way, the network will become much more efficient and transaction fees will decrease.

*Currently, ADA’s transaction fees cost an average of $0.15. Cardano is the blockchain with the lowest transaction fees after XRP.

2) Concurrency issue

The upgrade will also remove the concurrency issue that severely hampers Cardano’s scaling capacity in decentralized applications (dApps).

*Currently, the Cardano network contains 1,075 decentralized applications.

3) Processing speed

The ‘Vasil’ hard fork will also allow developers to store and reference data without having to use the output. In this way, the transaction volume will be optimized and the compatibility of the blockchain will also be increased. However, there will also be a significant increase in transaction speeds.

*It is known that the current transaction speed on the Cardano network is 20 seconds on average.

At what stage is the Cardano Vasil hard fork now?

On the other hand; Charles Hoskinson recently announced that the Cardano ‘Vasil’ hard fork upgrade has now entered its final phase. It was stated that after the upgrade, Cardano will become more resistant to heavy-duty operations and high-end applications. Cardano has been working on the ‘Vasil’ hard fork upgrade for a long time. The upgrade was originally expected to happen in July of this year. However, problems with the upgrade caused the ‘Vasil’ hard fork to be postponed to September 22.

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