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NewsBTC 2022-09-23 17:00:58

Cardano (ADA) Price Reacts Poorly To Vasil Hard Fork

The Cardano Vasil hard fork had been expected for months, and finally, it is a reality. The hard fork had proceeded according to schedule, and by Thursday, September 22nd, the hard fork was live on the network. It was received amid much fanfare from the community, but the network’s native token, ADA, had not reacted as well. Cardano Vasil Hard Fork Completed The Cardano Vasil hard fork was targeted toward making the network more efficient than it is already. In turn, this would make it a better platform for developers to build upon. It is the most important upgrade that has been carried out on the blockchain, and its completion is a call for celebration for the community. Related Reading: Stabilizing Ethereum Funding Rates Suggests Recovery Might Be In The Works With the upgrade, the already inexpensive transaction fees of the Cardano blockchain will become even cheaper. It adds more space, which increases the size of each block, making it able to save higher amounts of data. ADA trending at $0.45 | Source: ADAUSD on TradingView.com Transactions will be even faster with the upgrade. The increased block size also plays into this, as the increased data storage space means an increase in speed. So not only will users get faster transactions, but they would also be paying below $0.16 per transaction on the network. ADA Price Doesn’t React Well The completion of the Cardano Vasil hard fork has not had a positive impact on the ...

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