The Cardano network is somewhat superior to several other altcoin networks in terms of technologies used and upgrades introduced.
This network does stand out from others as it aims to keep on improving its performance and the overall user experience.
While the latest Vasil hard fork has been quite the buzz in the community, it has been delayed a few times. One of the reasons for its partial delay was the collapse of the Terra ecosystem, according to Charles Hoskinson.
Why and how did the collapse affect the launch and what next can be expected of the network are discussed below.
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Details About Vasil Hard Fork and More
After the Alonzo upgrade launched for the Cardano network, the Vasil hard fork is the next big thing. The creator of Cardano, Charles Hoskinson, revealed that Vasil is anticipated to deliver “massive performance improvement.”
However, a specific date was never announced for the launch as it had to be delayed a few times. As mentioned above, one of the reasons for its delay is the collapse of Terra. According to Hoskinson, the team behind Cardano wanted to be cautious, considering the crypto market situations.
Even now there is a widespread decline noted for the overall crypto market but Hoskinson has stated that the code for the hard fork is ready. This means the switch can be flipped at any time.
However, Hoskinson revealed that they are trying to do more than what they did for previous hard forks. This is why, additional tests have been included in Cardano’s smart contract platform, the Plutus suite.
The Vasil hard fork is a much-awaited and one of the most outstanding upgrades for the network. It will include four CIPs (Cardano Improvement Proposals). It has already caused the ADA token to outperform several other altcoins, despite the current market condition.
ADA is currently trading at $0.490 (at the time of writing) and has seen an increase of 3.51% in the last 24 hours.
Here is a graph by CoinMarketCap that shows the price movement of Cardano over the last 24 hours.
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Important Tips for New Crypto Investors
The crypto space is quite vast and unpredictable and poses several security risks to users. This is why buying or trading crypto assets is not as easy or hassle-free as one might think.
There are several aspects every new crypto investor needs to know before they begin. The more information or helpful tips you know, the easier it can be for you to dive into crypto investing.
Therefore, if you are new to the crypto space and want to buy any digital asset then here are some major tips you need to know.
- Start by investing a small amount.
- Choose a secure exchange that suits your needs as a new crypto investor.
- Keep an eye on the price movement of the digital asset you want to buy.
- Know when to invest.
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