At the end of September 2022, the process of the Cardano Vasil hard fork started. For those who do not know, it is for enhancing transactions on the Cardano platform, which is used for creating tokens or other decentralized apps. This upgrading process will improve the quality of safety, will include DApp development, and will enhance the general usability level.
The main role of Cardano is to develop the ecosystem’s scalability. This is why decentralized application quality is essential. With limited capacity, it will not be able to make general transaction usability good enough.
The announcement about this massive upgrade was made by Output Hong Kong, which is a blockchain company. As this company claims, the upgrading not only will change the quality of Cardano but will have a positive impact on the whole decentralized finance space. In this article, we will review everything that is connected to the Cardano hard fork process, including its probable results and benefits.
What Impact Will Cardano Vasil Hard Fork Have On The Ecosystem?
The announcement about this massive upgrade decision was presented on 18 September. As Charles Hoskinson, a co-founder of the platform claimed, it will make Cardano more cost-effective and efficient to use.
Before we start outlining the main features of this upgrading process, let’s take a look at its ongoing characteristics. When the hard fork process starts, the network is divided into two parts. The first keeps working with the standard features which were available before the upgrade, and the second one is an ongoing upgrading version.
The whole process of the hard fork is about fixing the specific features of the network to improve the whole ecosystem. When the co-founder was talking about the Vasil fork for Cardano will change the whole ecosystem, he implied that Cardano will become a great example of the highest infrastructure level for similar platforms which will lead to other changes in the system. The fact that after the hard fork Cardano will be able to reduce transaction costs and improve speed will cause other improvements.
It is needed to mention that Vasil is not the first upgrading project from Cardano. The previous hard fork was implemented several years ago and the name of it was . When Vasil's upgrade is more oriented toward speed and costs, Alonzo aims to improve access to DApp and insert smart contacts into the platform.
So what will be the result of the Vasil upgrade? It will be outlined in three main improvement proposals called CIP-31, CIP-32, and CIP-33. The first will be connected to access to DApp. This will be the way to reference information without using outputs. So for developers, it enhances concurrency. CIP-32 will be for enhancing decentralization levels. This will be outlined by substitution of outputs instead of datum hashes. This will make it a more convenient possibility for developers to code scripts that will be directly pointed to inputs.
The final, CIP-33 improvement will change the programming script to improve the speed of processes. There already will be involved Plutus V2, which is the best way to reduce costs. This is the main aim of the Cardano Vasil hard fork. After enhancing the speed, fees will be reduced accordingly. As the team Cardano claimed, there will be a final level too. It will be called CIP-40 and will include a completely new transaction mechanism.
What Are The Main Advantages Of Cardano And Should You Start Using It Before The Upgrade?
As you can see, Cardano Vasil's hard fork will significantly improve the features of the platform, which will make using it more comfortable. If you just got interested in Cardano because of the upgrade, here are some great features, which are worth trying before completing the Vasil hard fork.
So, in general, the Cardano platform can make any kind of transaction with the cryptocurrency ADA. The aim of the platform is to become the internet of blockchains and create the best ecosystem. This blockchain is decentralized, which means that transactions are not handled by a specific bank. To become a Cardano user, you need to buy ADA and then use staking which, means the process of placing a participation deposit.
For the transactions, you can use any crypto wallet which accepts ADA. But the official Cardano wallets are only Daedalus and Yoroi. Both wallets have similar functions. So, why is Cardano popular? Because it is environmentally friendly, which creates a big competitive advantage for them. Also, they provide you with fast transactions compared to BTC or ETH 1.0. Additionally, they provide you with a blockchain development guide in collaboration with academics. So even if you decide to use Cardano before the hard fork, it is still a good decision.
