Cardano [ADA], one of the most developed ecosystems underwent the much-anticipated Vasil hardfork on 22 September. This brought “significant performance and capability” enhancements to the blockchain. However ADA, the native token, didn’t quite showcase the same enthusiasm as sellers went on a rampage.
But, the platform didn’t give up yet. In fact, Cardano added further key updates with 27 September as a key date for the same.
Piling on with goodies
On 22 September, IOG together with Cardano Foundation, triggered the hardfork combinator event to deploy Vasil at the protocol level. But there’s more to it or rather there is more room for growth.
Full Vasil functionality, which includes support for reference inputs, inline datums, reference scripts, collateral outputs, and a new Plutus cost model, would become available to developers on mainnet on 27 September. A fellow Cardano user reiterated the key data and its significance on the social media platform.
Tomorrow we will see the rest of the Vasil improvements upgraded on to the Cardano Mainnet! This is bringing the rest of the upgrades for Plutus 2 along with CIP 31-33! Developers will now be able to build and launch all of their projects beginning the new era of Cardano Defi!🏄
— Lucid (@LucidCiC) September 26, 2022
According to IOG, monitoring would continue for at least four epochs after the hardfork, after which a decision about future adjustments would be made based on “regular” network bandwidth.
Nonetheless, the progress till now was a rather significant one. Input Output HK also released the latest Weekly Development Report overnight. According to the 23 September report, statistics to date included,
Meanwhile, Rick McCracken DIGI, who ran the DIGI stake pool on Cardano, took to Twitter to share his observations about the network. In a tweet posted on 26 September, he added,
Babbage era day 3 (post-Vasil CUE on #Cardano )
✅ Happy raindrops
✅ Network sync 99% + consistently
✅ Block height reports from 349 volunteers
✅ Block propagation typically ~300 milliseconds
(down from about 1600 milliseconds)
✅ #goingfornumber1 https://t.co/ZA3WIh7Nv2 pic.twitter.com/Yr2CrKoYjq
— Rick McCracken DIGI (@RichardMcCrackn) September 26, 2022
Such upcoming developments and/or achieved milestones could be the key reason behind ADA holders’ faith despite the price correction(s).
Somethings NEVER change
Cardano did see some increased traction from the community. Even institutional investors ended the week with funds inflows for eighth consecutive time. As per CoinShares’ report, ADA brought in an influx of $100,000 in blockchain-focused crypto products.
That said, the platform including the chief figure remained the target of censure within the community. Like always, Charles Hoskinson, the CEO of IOHK addressed the same to his 950k+ Twitter followers.
Is the censure just because of ADA’s slow price growth? Maybe because the token continues to face hardships to cross the $0.5 line.