Cardano has made some good news in recent days, the main of which is the announcement of the Vasil hard fork date.
Cardano representatives revealed the exact date of its Vasil update — the hard fork is scheduled for September 22. The update was originally planned back in June, but the date has been postponed several times for various reasons.
While preparing for the upgrade, Input Output representatives ensured that at least 75% of validator nodes had moved to Cardano Node v1.35.3. Earlier, during the testing of the Cardano client’s new versions, rumors about “critical bugs” appeared. The lead developers promptly refuted them.
In addition, ahead of the hard fork, the Input Output team tested the interaction of the updated client with 25 crypto exchanges, representing a significant share of ADA token liquidity. In a similar vein, the correctness of decentralized apps, the largest in terms of blockchain value, was analyzed. Consequently, it was decided that the system was ready to implement the Vasil update.
The chosen update’s date coincides with the Independence Day in Bulgaria, which is symbolic because the update is named after the Bulgarian mathematician Vasil Dabov. He was one of Cardano’s developers and proposed a pipeline algorithm for processing transactions and a diffusion method for placing them in a block. These technologies will be implemented in the Vasil hard fork, the most significant update to the Cardano blockchain, which will increase network capacity and enable the deployment of more complex dApps.
Apart from preparing for the upgrade, Cardano continues to actively grow. It already has 1,076 decentralized applications. During August, their number increased by 31. The NFT market is among the most actively developing areas, accounting for almost 38% of all applications. Community & Social sector projects come in second place in terms of popularity.
Specifically, Aada Finance, the first DeFi platform for lending in the Cardano network, is preparing for a full-fledged launch. This information was shared in the press releases. So far, the DeFi sector has been implemented in the network quite modestly — only 2.3% of apps belong to it, and the total value locked (TVL) is ~ $88 million, according to DeFi Llama.
Moreover, there is information about ADA’s listing on the Robinhood platform. This news is pushing the value of Cardano’s native token up. According to CoinGecko, as of 11:30 (GMT+3) on September 5, 2022, its price has risen 13% in the last seven days and stands at $0.49. The asset’s maximum value was recorded on September 2, 2021, at $3.09 — a drop of over 84% for the year. Nevertheless, Artificial Intelligence recently named Cardano as the “closest” brand to users in the crypto market.
