Cardano Hard Fork Explained
Among such developments comes the news from Cardano regarding its latest update which is the Cardano Vasil Fork.
In this article, we will be briefing you about the Cardano Vasil Fork and the effects on the crypto market but before jumping to the technology itself, let us learn on what is the meaning of Hard Fork.
What is a Hard Fork?
The term Hard Fork can be defined as a radical change in any blockchain network. In simple words, a hard fork is a change in the protocols of a blockchain network i.e. when conducting a hard fork over a blockchain network, the current protocol would stop operating and the new protocol which is developed to leverage the blockchain network would go live and will be available for public use.
Usually, when the protocol changes the previous protocol stops and all the history gets deleted but the Cardano Hard Fork is different. The Cardano Hard Fork is unique as the developers ensured a very smooth transition to the new protocol keeping the history intact.
The Cardano Hard Fork
CARDANO (popularly known as ADA) has come up with its Vasil Hard Fork. The Cardano Hard Fork project has been in the news for a very long time because of its previous launch of the Alonzo Hard Fork which was launched last September.
The Alonzo hard fork was very exciting for ADA community as it aimed to leverage the speed of the blockchain network. Sadly it failed due to high traffic on the blockchain network. Instead of becoming fast, the transactions crashed thereby making it a very frustrating experience for the users.
The Cardano Vasil Hard Fork
After the failure of the Alonzo Hard Fork, the developers had to come up with something better concentrating on the fact that they need to increase the speed of the blockchain network.
Thus, in contrast to the Alonzo Hard Fork, the Cardano developers came up with the Vasil Hard Fork which is focused on scaling the speed of Cardano and making it easier to use.
Before releasing it to the public, the Vasil Hard fork has first been uploaded on the Cardano Testnet to check if it is actually doing what it is meant to do.
Will Vasil Hard Fork increase the price of ADA?
In the current scenario of a bear market the prices of crypto tokens continue to decline which makes the hard fork to be launched in a challenging situation. But if things go as per plan then in the long term the Vasil Hard Fork can be expected to be helpful for the traders.
If Vasil delivers what it is set out to do then the effect should reflect positively on the price of cardano ($ADA) as well.
As per latest reports, Cardano’s Vasil Fork has been working well over the testnet and the developers have seen noticeable changes in the speed of the Cardano blockchain network. If everything goes as per the plan and the Cardano Vasil Fork succeeds in fulfilling the expectations on the mainnet as well, it is speculated that this fork will have a very solid impact on the future of the crypto market.
Image Credits: Cryptonomist; CryptoSlate.