ADA Jumps 6% as Cardano Vasil Upgrade Goes Live

After a few delays in June and July, the Cardano Vasil update went live earlier, and the native cryptocurrency reacted with a price increase.

The upgrade is touted as the most significant one for the IOG-backed blockchain since the implementation of smart contracts a year ago.

The IOG team took it to Twitter to announce that the Vasil hard fork was successfully deployed at 21:44:00 UTC and outlined some of the benefits the network is supposed to experience.

The Vasil upgrade will bring significant performance & capability enhancements to #Cardano, from higher throughput capability via diffusion pipelining to a better developer experience with much improved script performance, efficiency & lower costs.

— Input Output (@InputOutputHK) September 22, 2022

The upgrade, named after a famous Bulgarian mathematician, includes several Cardano Improvement Proposals (CIP) – reference inputs (CIP-31), inline datums (CIP-32), reference scripts (CIP-33), collateral outputs (CIP-40), and diffusion pipelining. All of these are explained in our comprehensive guide.
The Vasil update was supposed to occur at the end of June but was postponed to late July before being delayed once again due to issues with previous node versions.
Aside from Vasil, Cardano is still developing its own Layer-2 scaling solution – Hydra – which should see the light of day next year.
Cardano’s native cryptocurrency reacted positively to the news, with a 6% daily increase. Consequently, ADA currently sits close to $0.5. Despite the immediate jump, a recent report by Messari claimed that the asset has already been “aggressively” priced in.

The post ADA Jumps 6% as Cardano Vasil Upgrade Goes Live appeared first on CryptoPotato.

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