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Cardano (ADA) Price Falls After Vasil Hard Fork, Charles Hoskinson Has This To Say

Charles Hoskinson: Cardano Has Better PoS Approach Than Ethereum

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The price of Cardano (ADA) hit its lowest level in almost a year since Vasili’s hard fork, after the update failed to build an uptrend. Cardano founder Charles Hoskinson believes that the Cardano network needs a certified wallet to improve decentralization and sync speed. The proposed Cardano wallet algorithm Daedalus Turbo requires 10x synchronization time than the current Daedalus wallet.

Charles Hoskinson shares insights on the Daedalus Turbo Wallet

In a September 28 YouTube video, Cardano founder Charles Hoskinson shared the proposal for the Cardano wallet Daedalus Turbo, which has now been approved and funded with $759,000. According to the proposal, the Daedalus Turbo algorithm has 10x the synchronization time compared to the current Daedalus wallet.

According to the proposal, Daedalus, a centralized Cardano wallet, is slow, taking all day to sync initially and hours to resync when used only occasionally. This gives new users an unfavorable impression of Cardano. Charles Hoskinson says that this is indeed true because of the calculation.

He hopes to get rid of the concept of an official wallet and use the standards as a guide for developers to release certified wallets.

“We hope to get rid of the concept of an official wallet altogether and instead have a certified wallet versus an uncertified one, and functional and non-functional requirements can be set under the certification standards, including benchmarking and performance requirements for the user experience. It would be really cool to build some protocols to make things go faster. That was the point.”

The community is disappointed with the approval of the technically impossible proposal to build the Daedalus wallet. In addition, 6% of Catalyst’s total budget will be allocated to one proposal.

Cardano (ADA) price drops after Vasil Hard Fork

Cardano (ADA) price has been unable to build momentum since the Vasili hard fork on September 22nd and 27th. In fact, the ADA price dropped to a near-year low of $0.42 after the Plutus V2 activation.

Historically, the ADA price had always dropped after each hard fork. Popular analyst Peter Brandt warned that the ADA price has formed a descending triangle. It shows that the price can dive below $0.33.

Varinder is a technical writer and editor, technology enthusiast and analytical thinker. Fascinated by disruptive technologies, he has shared his knowledge of Blockchain, cryptocurrencies, artificial intelligence and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a considerable period of time and currently covers all the latest updates and developments in the crypto industry.

The presented content may contain the author’s personal opinion and is subject to the market situation. Do market research before investing in cryptocurrencies. Neither the author nor the publication is responsible for your personal financial loss.



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