Cardano: 27 September is another ‘big’ date for the community. Here’s why…
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Cardano [ADA], one of the most advanced ecosystems experienced the long-awaited Vasil hardfork on September 22nd. This brought “significant performance and capability improvements” to the blockchain. However, ADA, the original brand, didn’t quite show the same enthusiasm as the sellers ran amok.
But the platform did not give up yet. In fact, Cardano added new key updates and September 27 is an important date for the same.
I’m stocking up on goodies
On September 22, IOG together with the Cardano Foundation launched a hardfork combinator event to implement Vasil at the protocol level. But there is more to it, or rather there is more room for growth.
Full Vasil functionality, including support for reference income, row data support, reference scripts, collateral, and the new Plutus cost model, will be available to developers on the mainnet on September 27th. Another Cardano user echoed the key information and its significance on social media.
Tomorrow we will see the rest of Vasili’s improvements updated to the Cardano Mainnet! This brings the rest of the Plutus 2 updates along with CIP 31-33! Developers can now build and launch all their projects, ushering in a new era of Cardano Def!🏄
– Lucid (@LucidCiC) September 26, 2022
According to IOG, monitoring would continue for at least four epochs after the hardfork, after which a decision on future adjustments would be made would be done based on “standard” network bandwidth.
Nevertheless, the progress so far has been quite remarkable. Input Output HK also released its latest weekly development report overnight. According to the report published on September 23, the statistics so far include e.g.
Meanwhile, Rick McCracken’s DIGI, who led the DIGI staking pool on Cardano, took to Twitter to share his observations about the network. In a tweet sent on September 26, he added,
Babbage Era Day 3 (After Vasil CUE on #Cardano )
✅ Happy raindrops
✅ Network synchronization 99% + continuously
✅ Block height reports from 349 volunteers
✅ Block progress typically for ~300 milliseconds
(down from about 1600 milliseconds)
✅ #menossanumeroon1 https://t.co/ZA3WIh7Nv2 pic.twitter.com/Yr2CrKoYjq
— Rick McCracken’s DIGI (@RichardMcCrackn) September 26, 2022
Such future development and/or achieved milestones may be a key reason for ADA holders’ faith despite price corrections.
Some things never change
Cardano saw some increased traction from the community. Even institutional investors ended the week with an eighth consecutive inflow of funds. According to a CoinShares report, ADA brought in a $100,000 stream of blockchain-focused crypto products.
Nevertheless, the platform the main character was on remained a target of community censure. As always, Charles Hoskinson, CEO of IOHK indicated ditto for his more than 950,000 Twitter followers.
Is the lack of confidence only due to the slow price increase of the ADA? Perhaps because the token is still struggling to cross the $0.5 mark.