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Cardano up 3% following completion of Vasil hard fork

Cardano up 3% following completion of Vasil hard fork

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Cardano’s ADA has reacted positively to news of the successful completion of Vasili’s upgrade, rising 3.6% in the last 24 hours to $0.4638.

Vasili’s update was deployed on September 22 at 21:44 UTC, ad from Input Output.

Hard Fork:

“brings significant performance and feature improvements to Cardano, from higher performance through diffusion pipelines to a better developer experience with significantly improved scripting performance, efficiency and lower costs.”

Vasil’s update is its most significant improvement to Cardano since it introduced smart contract functionality in 2021.

Vasil is Cardano’s most ambitious update

IOHK described it as his most ambitious work and praised the Cardano community for making the update a success.

Vasili’s update had been delayed and was rescheduled a few times before its final release. After Vasil’s update, Cardano develops a layer 2 scaling solution, the Hydra head protocol.

However, all functions of the update will not be available to developers until September 27. According to the team, this is when a new era begins, and the new Plutus V2 spending model will be active on the chain.

Community reaction to the update has been positive, with many considering it a great success. Bill Barhydt, founder of Abra Global, said:

“Making UTXOs and inputs available to scripts/Plutus without using them is a big win for developers. Well done!”

Fraudsters try to take advantage

Meanwhile, the bad Actors tried to use the tension to promote scams.

Several accounts masquerading as Cardano’s Charles Hoskinson offered handing out millions of ADA credentials to anyone who clicked on a suspicious link.

Hoskinson highlighted these fake accounts in one of his tweets and urged the community to report them.

As of press time, it was unclear if anyone had fallen for these scams.

Posted by: Cardano, Technology

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