Yesterday, the Ethereum (ETH) blockchain officially transitioned from Proof-of-Work (PoW) consensus to Proof-of-Stake (PoS) consensus. The new consensus mechanism will make ETH mining obsolete. It will also reduce the supply of ETH and make Ethereum greener, with lower transaction fees. As the craze around the Merge fades, all the attention of the crypto community is on Cardano (ADA). The upgrade of the eighth largest blockchain by market capitalization is imminent.
Only 6 days left for the Vasil hard fork of Cardano (ADA)
The planned date for the Vasil hard fork of Cardano (ADA) is September 22. For the competitor of Ethereum (ETH), this event is a big step towards realizing its plans. Regarding this, Cardano (ADA) co-founder Charles Hoskinson said: “ It is increasingly clear that the distance between us and everyone else is growing. We built Cardano to be the world’s financial operating system. We built it to bank the unbanked.»
Charles Hoskinson added that the Cardano blockchain aims to “give an economic identity to those who do not have one. It also aims to help make the global market fairer, he continued. The network’s co-founder acknowledged that it is a “crazy mission that seems vast. However, he clarified that this seems more feasible with the arrival of the Vasil hard fork. September 22.
Furthermore, the Cardano (ADA) blockchain recently passed the 50 million transaction mark, with approximately 920,000 transactions carried out during the last 15 days. The information comes from the Cardano blockchain explorer Cardanoscan.
As the Vasil hard fork of Cardano (ADA) approaches, the number of transactions on the platform ofsmart contractshas increased dramatically. But, the price of crypto is falling. The ADA has gone from $0.52 to $0.46 in the past seven days.
Receive a digest of news in the world of cryptocurrencies by subscribing to our new service ofdaily and weekly so you don’t miss any of the essential Tremplin.io!