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Cardano gains 3%. Bull run at the end of the month?

Cardano gains 3%.  Bull run at the end of the month?

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Cardano completed the Vasil hard fork, resulting in a 3% increase in the coin’s price. However, the full functionality of the upgrade will not be available to developers before September 27th. Is there a new ADA rally coming?

Cardano completes Vasil’s hard fork

ADA Cardano responded positively to the news of the successful completion of the Vasil upgrade. The token is up 3.6% in the last 24 hours, now trading at $0.4638.

Notice

The Vasil upgrade went live on September 22 at 9:44am UTC, according to an announcement from Input Output.

The hard fork…:

“… it brings significant performance and capability improvements to Cardano, from increased throughput to a diffusion pipeline to a better developer experience with greatly improved script performance, efficiency and lower costs.”

Vasil’s upgrade is being described as Cardano’s most significant improvement since the launch of smart contract capabilities in 2021.

Vasil is Cardano’s most ambitious upgrade

IOHK describes Vasil as their “most ambitious work”. At the same time, the company praises the Cardano community for making the upgrade a success.

Vasil’s upgrade experienced several delays and was pushed back a few times before it was finally released. Following Vasil’s upgrade, Cardano is developing a Tier 2 scaling solution, the Hydra-Head protocol.

However, the full functionality of the upgrade will not be available to developers until September 27th. According to the team, a new era will begin there and the new Plutus V2 cost model will be active on the chain.

Community response to the upgrade has been positive. Many say it was a great success. For example, Abra Global founder Bill Barrhydt says:

“Making UTXOs and inputs accessible to scripts/Plutus without exposing them is a huge win for developers. Very good!”

Scammers take advantage of the hype

Meanwhile, malicious actors tried to take advantage of the commotion. Several accounts impersonating Cardano founder Charles Hoskinson offered to distribute millions of ADA tokens to anyone who clicked on a suspicious link.

Hoskinson pointed out these fake accounts in one of his tweets and urged the public to report the accounts. At the time of writing, it was not yet clear if anyone had fallen for the scams.

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Text credit: Cryptoslate

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