Launched on September 29, 2017, the first version of Cardano has given way to several updates over the years. From Byron to Basho or Voltaire, each of these eras influenced Charles Hoskinson’s expensive blockchain implementation. Recently, it is the Vasil fork that has also been talked about. Particularly active in recent weeks, the Cardano blockchain has nevertheless seen the price of its ADA token stuck below $0.50. As you wait for better days, this anniversary date has a bitter taste for the Cardano community.
Vasil deployed successfully!
Released last week, Vasil’s hard fork has been successfully deployed. In terms of transaction processing, it brings significant improvements. In fact, blocks can now be transmitted without full validation, allowing faster block creation. According to Tim Harrison who works with Cardano, the update improved transaction speed by about 20 seconds. Alot.
Next up for Cardano will be the development of its Tier 2 scaling solution. Eventually, the Hydra protocol should be able to process transactions off the blockchain. It should also be used as a settlement and security layer for the Cardano blockchain. Launch scheduled for late 2022 or Q1 of 2023. Like Ethereum, the fork is therefore a step towards new updates.
Crypto-assets are a risky investment.
More than 50 million transactions processed!
For the blockchain, the passage of over 50 million transactions was symbolic, but still a big one. Proof, if needed, of its effectiveness. At the time of writing these lines, the Cardano blockchain has already processed 50,788,912 transactions, as shown by the platform Cardanocan.io.
It is very interesting to note that this number grows exponentially. Last June, the number of transactions touched 42 million. In the fourth part, the blockchain has validated about 20% of its total number of transactions. At this rate, the 100 million transaction mark could be reached at the end of 2023 or at the beginning of 2024. Roughly, at the same time as the next half of Bitcoin.
If the transaction size increases, development activity also expands greatly. As highlighted by data from the Santiment platform. On the other hand, institutional investors seem to be more interested in the potential offered by the Cardano blockchain and its ADA token. The latest examples include SwissBorg, a Swiss crypto wealth management company that is offering the ADA token as of today. A decision that encourages the company through the vote of its community:
We are very excited to announce the long-awaited, voted listing of Cardano $ADA.
Impact on the price of ADA?
Despite the flood of good news, the fifth anniversary candle remains unlit for Cardano. Because the impact on the ADA signal is still relatively limited, if not zero. Over the past few weeks, the asset has been unable to sustainably break the $0.50 psychological resistance. Last August, launched in Euphoria The Merge, the token even managed to break above $0.60, but that was short-lived. Since then, the FED has been there and the crypto market is screwed again.
As of this writing, the ADA token is trading against $0.433.