$ ADA: Cardano's Vasil Hard Fork delayed in part due to Terra's collapse, Hoskin says

$ ADA: Cardano’s Vasil Hard Fork delayed in part due to Terra’s collapse, Hoskin says

Cardano ($ ADA) creator Charles Hoskinson has revealed that the network’s Vasil hard fork, which is expected to bring a “massive performance improvement”, was delayed in part by Terra’s collapse as the team decided to be extra. careful.

In a recent video, Hoskinson noted that Cardano’s development team chose to be careful before sending Vasili’s fork after the collapse of the Terra ecosystem, noting that he “instructed many engineers to say we should probably measure three times and cut once, given the nature of things.”

Hoskinson pointed out that the hard fork code is complete, meaning “you can probably turn the switch and get rid of it,” but Cardano decided to add more tests to Plutus’ software, Cardano’s smart contract platform, and go “over and beyond.” what we usually do for hard forks. “

Terraform Labs ’algorithmic stablecoin UST lost its attachment after a $ 500 million withdrawal from Anchor Protocol led to large sales in Curve, where liquidity was low. As a result of the sale, UST lost its mortgage and led to a bank escape.

Thanks to the algorithmic system behind the UST, the trillion LUNA was printed while the value of the stable coin was constantly falling. Both were almost worthless in the end.

Vasil hard fork is a major update that includes four Cardano Improvement Proposals (CIP) proposals. The hard fork has already seen the ADA outperform many other cryptocurrencies, even in the midst of a broader cryptocurrency market downturn exacerbated by the collapse of the Terra ecosystem. Thanks to this performance, ADA became the seventh largest cryptographic asset in terms of market value, surpassing $ XRP.

Honsinkon also said that the desire to be involved in the quality assurance and testing process also contributed to the delay in hard fork, because after there was a “huge number of contracts with dApp [decentralized application] developers and other people “,” wanted to be a little more comprehensive in the quality assurance process and testing process. “

The hard fork was originally scheduled to go out on June 29, but the developers behind it moved it to the last week of July.

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h/t – CryptoGlobe

Thomas Miles

Cryptocurrency is the most recently discovered currency which will be likely at the help of modernization across the next few decades. With a limited control from the government, the crypto market is independent of many features of a sound market as we know it. Thomas brings these stories to us by weaving them into articles of general importance to all those looking at the fluctuations in the market, or new entries. Thomas is also the founder of Bulletin Bits and is an excellent leader. His leadership is the kind that makes him the most knowledgeable and experienced on the team. His wonderful work ethic and attitude are worthy of imitation!

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