Cardano Update: developers delay Vasil hard fork by a month
Why the Cardano update milestone has been pushed back
According to Cardano co-founder Charles Hoskinson, the Vasil update will significantly increase Cardano's performance and smart contract capabilities. It was due to be completed by June 29, but the most recent estimate puts its release date in the last week of July. The developers added that a "few remaining issues" were required to certify that everything was "functioning as intended" and that they would "need a few more days" to accomplish this.
What the Vasil fork entails
The Vasil hard fork will increase the Cardano update chain's speed and scalability. It will include new technologies, most notably diffusion pipelining, enabling more efficient block propagation, resulting in larger blocks, and various Cardano update Improvement Proposals to enhance data storage and access. The overall effect is more significant despite minimal alterations to the underlying technique.
What is the market's anticipated reaction to the Cardano update?
Despite the platform's decision to postpone the rollout of the Vasil hard fork, intended for June 29, the markets were unaffected. The previous three trading sessions have been positive, resulting in a 15% gain in price. Today, the cryptocurrency appears to have resumed its last aggressive bullish surge, which is already up 2.5 per cent. The move also seems to have positive momentum, indicating a likely higher market close.
Therefore, we expect the Cardano update price prediction to continue its bullish run on the back of the three previous trading sessions. There is a good chance that prices will rise to the $0.65 resistance level which will significantly depend on the present bullish trend's strength. Our analysis will be in vain if prices fall below the $0.44 support level. The bearish trend will have been established by that time.
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Author: Emmanuel Baiden
7 years experience within the financial services sector most notably in Sales, Trading, research and writing articles within the crypto space. I have a bachelor's degree in International Business and a Master's in Investment and Risk Finance . I am also an associate member of the Chartered Institute for Securities and Investment.