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ADA Jumps 6% as Cardano Vasil Upgrade Goes Live

ADA Jumps 6% as Cardano Vasil Upgrade Goes Live

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After a few delays in June and July, the Cardano Vasil update was rolled out earlier, and the original cryptocurrency reacted with a price increase.

The update is being touted as the most significant update to the IOG-backed blockchain since the introduction of smart contracts a year ago.

  • The IOG team announced on Twitter that the Vasil hard fork was successfully deployed at 21:44 UTC and outlined some of the benefits the network is expected to experience.
  • The update, named after the famous Bulgarian mathematician, includes several Cardano Improvement Proposals (CIP) reference inputs (CIP-31), inline dates (CIP-32), reference scripts (CIP-33), side outputs (CIP-40). and diffusion piping. All of these are explained in our comprehensive guide.
  • Vasil’s update was supposed to happen at the end of June, but was pushed to the end of July before being delayed again due to issues with previous node versions.
  • In addition to Vasil, Cardano is still developing its own Layer-2 scaling solution – Hydra – which should see the light of day next year.
  • Cardano’s original cryptocurrency reacted positively to the news with a 6% daily gain. Thus, ADA is currently close to $0.5. Despite the immediate jump, a recent report from Messari claimed that the property has already been priced “aggressively”.
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