After several postponements, the Vasil hard fork of Cardano (ADA) will finally take place today. According to the founder of the network, Charles Hoskinson, this is a major event that brings Cardano closer to its main objective which is to make the global market fairer. The Vasil hard fork will lead to several major changes on the Cardano (ADA) blockchain.
Upcoming changes to Cardano (ADA)
The parent company of the Cardano (ADA) decentralized blockchain, Input Output (IOHK), recently announced some upcoming changes. Indeed, several improvements will be seen on the Cardano (ADA) network after its upgrade on September 22. The Vasil hard fork should improve the functionality of smart contracts thanks to Plutus v2. This will make the more efficient Cardano (ADA) blockchain.
It must be said that with the addition of the functionality of smart contract on Cardano (ADA), activity on the network has increased. Additionally, for a period of time, Cardano was adding five new Plutus scripts per day to its ecosystem. At the beginning of August, the blockchain platform totaled for the first time, more than 3,000 smart contracts.
That said, the Vasil hard fork will add a lot of other functionality to the network. In particular, it will unlock the reference inputs for the blockchain data sharing. With this feature, users will have easier access to information stored on the blockchain.
The Vasil hard fork will also add benchmark scripting functionality to the network. This feature will notably reduce transaction size and script execution costs. Developers will now be able to reference a script without adding it to each transaction.
IOHK said that Cardano’s (ADA) core engineering teams are hard at work to ensure the Vasil hard fork has a successful outcome. This upgrade should optimize the network block validation process, with multiple features.
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