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Vasil Upgrade Advances Cardano Blockchain

The Cardano Foundation claims that the five-day Cardano Vasil hard fork process will enhance network performance.

A hard fork happens when the core code of a network is altered, necessitating the development of a brand-new blockchain. They may be contentious, but not usually.

Charles Hoskinson, a co-founder of Cardano, said it was the hardest upgrade the team had worked on since the project’s 2017 inception.

For instance, following the merge last week, the Ethereum network had a hard fork. It was an effort to protect Ethereum’s proof-of-work protocol, which depends on miners to validate transactions.

Reduced transaction times will be the primary benefit of the Vasil hard fork, according to Cardano Foundation CEO Frederik Gregaard in an email to Decrypt.

The Vasil hard fork, however, will make use of Cardano’s hard fork combinator technology, which introduces new features without erasing any data from the blockchain’s earlier versions, according to Cardano developer Input Output on Twitter.

According to him, “Vasil will strengthen Cardano’s smart contract capabilities with Plutus V2, which increases efficiency to a powerful smart contract platform.” In the end, it will lower the cost of script execution, decrease transaction size, and increase throughput.

In other words, Cardano smart contracts will be easier to write after the September 27th completion of the Vasil hard fork and an upgrade to the Plutus scripting language. Because more transactions may fit into each block—or batch—of transactions on the network, cheaper transaction costs are made possible.

For Cardano DeFi initiatives like Indigo Protocol, which has been operating its synthetic assets project on the Vasil testnet since July, it’s a significant development. Without really holding the assets, users of Indigo can trade synthetic representations of them, such as TSLA stock. Instead, users can purchase and sell iTSLA using Indigo, which is supported by TSLA shares.

According to a blog post by the business, “The Cardano fee expenses suffered by Indigo users have been dramatically decreased by lowering the amount of script overhead for reading data from the blockchain.”

News Summary:

  • Vasil Upgrade Advances Cardano Blockchain
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