October 5, 2022


Former Ethereum executive and Cardano [ADA] The founder, Charles Hoskinson, recently broke his silence on the Vasil hard fork upgrade. Recall that Hoskinson had made no public comment on this matter after Cardano confirmed that there would be a delay.

In a video he called “A Few Brief Comments on Vasil,” released via his Twitter page, Hoskinson noted that there were several unavoidable reasons for the setback.

Trials and failures

According to the head of cryptography, the Vasil process had to go through some stages before the upgrade took place. He noted that while some features can be overlooked, others cannot.

Hoskinson said Cardano was in an advanced stage of testing despite the delay. However, he reiterated that confirmed tests also need to be verified. He also revealed that, in the verification process, the team discovered some bugs that needed to be fixed and retested.

After testing nodes v.1.35.1 and v.1.35.2, the founder said that node v.135.3 could be the final version for the Vasil upgrade.

Even with the launch, Cardano’s native cryptocurrency, ADA, had not responded positively.

Undisturbed

After the above incident, ADA rose by 2.11% in the last day. At press time, the cryptocurrency in question was trading at $0.5052, according to the article CoinMarketCap.

But according to CryptoQuant, ADA’s 24-hour volume was below 16.40% to $679.83 million on August 2.

Source: CryptoQuant

Although the bullish sentiment of the entire cryptocurrency market may push ADA back past its near-term resistance, it may not be able to sustain its rally due to the lack of volume.

It is worth noting that developer activity on the Cardano chain has predictably declined.

However, data from Santiment shown that network activity has improved. As of August 2, 24-hour active addresses on Cardano had improved significantly. On August 1, it was 186. However, a day later, it had risen to 39,500.

Source: Santiment

While the increase in active addresses may not mean anything meaningful for the ADA price, it does prove that Hoskinson’s video may have sparked investor confidence.

Much to the surprise of investors, Hoskinson stated that there would be no further delays in Vasil’s upgrade.

However, nothing can be certain, especially since it took him so long to communicate. However, that probably wouldn’t stop investors from anticipating a more scalable Cardano.





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