The Cardano [ADA] network has managed to stay quite relevant in the market with consistent upgrades. The network has a roadmap designed for it and next on the list is the Vasil Hard Fork. Despite this robust vision, the network seemed to be experiencing a significant delay in implementing Vasil.
The Vasil hard fork was primarily scheduled to take place towards the end of June 2022. However now, it was brought to light that the Vasil upgrade would be delayed by weeks or even months.
What will Vasil bring to Cardano?
In the previous and most recent hard fork, Alonzo spruced up the blockchain. To further bring more stability and connectivity into the Cardano ecosystem, Vasil was introduced into the roadmap. The hard fork would extensively focus on veering in Plutus scripts into the blockchain.
An array of Cardano improvement proposals [CIP] will be part of this hard fork. For instance, CIP-33 intends to make transactions cost-efficient by minimizing the size. This proposal would eventually make it more compact and “lightweight”.
Additionally, DApps will be taking the center stage here. Decentralized applications will be able to access transactional output without having to rebuild them, thanks to the new CIP-31 update. CIP-32, on the other hand, will allow users and developers to store data on-chain. This would further boost Cardano’s chances of entailing a “fully decentralized architecture.”
The Cardano community was not so pleased with this delay. While some understood the reason behind the delay, a few others were worried that another delay might occur just before the launch.
ADA records a 12 percent weekly loss
Cardano emerged as one of the most undervalued assets. Despite witnessing a dainty recovery, the altcoin plummeted by 11.43 percent over the last couple of days. During press time, the altcoin was trading for $0.8472.
The market cap of ADA also dropped which further pushed the altcoin down to the 9th rank.
Original Source: https://watcher.guru/news/heres-why-cardano-has-delayed-vasil-upgrade-for-months
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