The crypto markets have seen a lot of market sentiments since the beginning of the year 2022. With newer projects that are being introduced, a lot of the older crypto assets have been integrating new updates to make them compatible with the current requirements. Some of the well-known updates are The Merge of the Ethereum blockchain, which is catering towards its shift from Proof of Work to Proof of Stake consensus mechanism along with the Vasil Hard Fork of the Cardano ecosystem.
According to the U.Today report, Cardano (ADA) has proved itself to be the most stable network in the crypto ecosystem! How so? The ADA blockchain has been running smoothly for five years without any power outages. An event that is sometimes encountered by various other crypto tokens. As per the report shared, the Cardano blockchain explorer suggests, the network has been working smoothly for almost five years despite many periods of extremely high load; we saw one back in 2021 when the project released its own smart contract technology.
Cardano is one of the most actively developed networks!
According to experts, this smooth delivery of the Cardano blockchain is probably owing to the fact that ADA is very much on the top of the development curve. With 350 commits on GitHub in June, the Cardano network is the most actively developed network in the crypto industry!
As reported by U.Today, the reason for such high development activity is also tied to a lack of existing technologies and solutions on the network. This very reason makes it an unplowed field for developers who bring their decentralized solutions from other networks to Cardano, which offers fast transaction processing and relatively low fees. Along with the low number of existing applications on the network, Cardano receives a massive number of updates in relatively short periods of time compared to networks like Solana or even Ethereum.
Additional Read: ADA Price Prediction
What is Vasil Hard Fork?
Cardano’s Vasil Hard Fork is the next step in its plan to improve upon the speed and scalability of the network. This essentially brings the project one more step closer to dethroning the largest smart contract and DeFi platform out there – Ethereum. With this latest upgrade, Cardano’s developers hope to improve the efficiency of smart contracts to make Cardano cheaper and faster to use.
Why is this such a momentous occasion? Well, because it will be tackling two of the biggest issues that a blockchain network faces when it becomes popular. Network congestion and fees. Ethereum is already having a tough time with it, with gas fees skyrocketing beyond all acceptable levels and that is what Cardano is trying to solve and get ahead of.
Cardano’s smart contract capabilities launch saw intense traffic coming on the chain with a huge number of developers wanting to build DeFi protocols on the chain. As blockchains get busier, speeds typically slow down and fees increase. So the Vasil Hard Fork is expected to solve this two-pronged issue at once.
Additional Read: How to Invest in Cardano (ADA)
We’re happy to report that today at 20:20 UTC the IOG team has successfully hard forked the #Cardano Testnet. This is an important next step in the journey towards the Vasil upgrade on mainnet. 🧵
— Input Output (@InputOutputHK) July 3, 2022
HOW & WHERE TO INVEST IN CARDANO (ADA)
If the Cardano network interest you, you can explore crypto exchanges like CoinDCX to invest in ADA. All you need to do is, download the crypto investment app on your smartphone and register yourself. Once you have completed your KYC and your profile is verified, transfer fund to your wallet and buy Cardano (ADA)!
Disclaimer: “The information and material contained are subject to change without prior notice including prices which may fluctuate based on market demand and supply. The material available on the site is proprietary of CoinDCX, its parent, and its affiliates and is for informational purposes and informed investors only. This material is not: (i) an offer, or solicitation of an offer, to invest in, or to buy or sell, any interests or shares, or to participate in any investment or trading strategy, or (ii) intended to provide accounting, legal, or tax advice, or investment recommendations. Please note Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.”