Cardano (ADA): The hard fork planned for September?

About a week ago, Charles Hoskinson reported some uncertainty as to when the hard fork Vasil, supposed to improve the performance of the Cardano (ADA) blockchain. According to him, since it is a decentralized blockchain, it is the nodes that manage the network that will decide when to launch the hard fork and not him.

At the same time as The Merge?

On Friday, August 26, Charles Hoskinson, founder of Cardano (ADA), said that the hard fork Long-awaited Vasil could be realized “during the month of September”. The announcement comes a few days after the manager suffered the wrath of community members over the delay in the operation.

He was also blamed for abruptly serving DApps and Stake Pool Operators (SPO) the alternative of a version 1.35.3. It is an update to version 1.35.2, which is supposed to be used for blockchain upgrade, and has had a bug.

So the hard fork Vasil will take place around the same time as The Merge of Ethereum (ETH). For information, The Merge involves the passage of the mechanism Proof-of-Work (PoW) to a blockchain Proof-of-Stake (PoS).

What is Cardano?

Community members expect this announcement to somehow fix the slump that the ADA has been experiencing for some time. You should know that in the last two weeks, Cardano (ADA) has lost more than 20% of its value. It is down 85.7% since the all-time high of September 2, 2021. Moreover, it has fallen 84.9% since the start of the year, against the US dollar.

the hard fork aims to add four major proposals for improvement to Cardano. Among these, the CIP-31, which will significantly reduce transaction costs. This was explained a few months ago by the company Input Output Hong Kong (IOHK), which developed the blockchain.

Much ink has been spilled over the broken promises of the hard fork Vasil and the uncertainty surrounding his achievement in recent months. The unconvincing announcements from the developers of the Cardano (ADA) blockchain have sown a lot of doubt within the community. They have also impacted the price of crypto. The doubt is now partially dispelled with the announcement of the operation for next month.

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