The soap opera on the launch of the hard fork of the Cardano (ADA) blockchain is far from knowing its epilogue. Users of this blockchain have been eagerly waiting for the update for several months. In fact, it was always postponed for technical reasons or because the team in charge had difficulties. Now the only cryptocurrency exchange that exists is Coinbase to step in and announce that it is not ready for the hard fork.
Exchanges such as Coinbase are expected to…
The Cardano (ADA) blockchain is one of the most famous and most used at the moment. It was created with the aim of finding a solution to the identity management issues blockchain users. It is so popular that its native ADA sign is now 8e largest cryptocurrency, given its market capitalization, according to data from CoinMarketCap.
To make the blockchain more efficient and to fully meet the needs of users, Cardano (ADA) has to undergo a hard fork named Vasil. However, for it to be effective and truly successful, mediation of cryptocurrency exchanges as Coinbase required. On this date, only a few scholarships have answered the call. Bitrue, BitMart, MEXC and LCX are the only ones that have already carried out operations for their system compatible with the Vasil hard fork.
Other cryptocurrency exchanges have taken steps to roll out the long-awaited update. These are Bitfinex, Hotbit, Upbit, Kraken, OKex and Binance. For its part, Coinbase, one of the world’s largest digital asset companies, is lagging behind.
Continuously postponing the upgrade
In order for Vasil’s hard fork to function effectively on the mainnet, the majority of the At least 25 cryptocurrency exchanges apply the steps to accommodate the update.
With Coinbase down, if other digital asset exchanges update their nodes, its users could face problems during a transaction including the cryptocurrency ADA. In any case, while waiting for Coinbase to update, his customers told him that they are unhappy because they have been waiting for Vasil for a long time.
Vasil’s update has been delayed several times this year. In principle, it was supposed to be available already in July, but due to finding bugs on the testnet, Vasil was postponed. But recently, the creator of Cardano, Charles Hoskinson, announced that the hard fork will be launched “during September”. Of course, this must be taken with a grain of salt.
Vasil’s hard fork launch still causes a lot of ink and saliva to flow. While some cryptocurrency exchanges have already developed techniques in an effort to accommodate the upgrade, Coinbase says it is not ready. As a result, it receives criticism from its users.
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Far from dampening my enthusiasm, an unsuccessful investment in cryptocurrency in 2017 only increased my enthusiasm. So I decided to study and understand the blockchain and its many uses and pass my pen knowledge related to this ecosystem.
