Economic network

Cardano (ADA) heading for final stage of key network upgrade

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In a series of tweets over the weekend, the Input Output Global (IOG) team driving the software coding of the Cardano (ADA) blockchain announced progress on its latest cryptonet upgrade. Specifically, the team announced the successful deployment of the Vasil Hard Fork on the blockchain test platform – a critical step towards live deployment for all users.

The stream of tweets also called on cryptocurrency exchanges, app developers, and Stake Pool Operators (SPOs) to engage in the final prep work for the final onboarding of the new and improved blockchain. Cardano.

“The @cardanostiftung & IOG teams will be working closely with exchanges and DApp/tool ​​developers throughout this process. As soon as we’re sure ecosystem partners are comfortable and ready, we’ll submit a proposed update to upgrade the #Cardano mainnet to #Vasil,” one of the tweets said.

In a separate IOG blog post yesterday, the developers state that the benefits of improving Vasil include increased functionality, speed, throughput and compatibility on other networks for Cardano thanks to the improved features.

“Upgrading Vasil is the most ambitious work program we have undertaken. And the whole community is involved. Our main concern is to make sure that we manage this upgrade in a safe and secure way,” says the Twitter feed.

How Cardano differs from Bitcoin and Ethereum

Originally deployed in 2017, Cardano’s Proof-of-Stake (PoS) consensus method relies on less energy to validate blockchain transactions, making it a better option for the environment, compared to the proof-of-work (PoW) model. Many of the most popular crypto blockchains are still based on PoW, including Ethereum, Bitcoin, and Dogecoin.

At the time of this writing, Cardano’s native ADA token was up nearly 5% on the news, priced at $0.4697 per coin with a 42% increase in trading volume. The broader crypto market is up by about half according to CoinMarketCap.

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