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Cardano Price Gains

Cardano Price Gains As Vasil Upgrade Date Comes Near

According to the latest Cardano news, the developer of Cardano (ADA), Input Output, in a recent tweet mentioned that the Vasil Upgrade is being worked on currently and might come sooner than expected. Cardano price has been gaining after the announcement was made. The organization said that it had “made good progress” on the upgrade. The tweet stated:

“The team at IOG, along with @CardanoStiftung and the wider @Cardano technical community continue to work together to bring the #Vasil upgrade to the #Cardano mainnet.”

IO said that about 40% of the Vasil Upgrade’s stake pool operators (SPOs) are running the 1.35.3 version of the node. This implies that Cardano has reached about halfway to its upgrade that everyone has been waiting for. Input Output has several times stated the fact that it has been working on Cardano Vasil Upgrade to research the 75% milestone soon.

Announcement Highlights

Node & Downstream Component Integration Status:

  • Node 1.35.3 released
  • WBE: released
  • Rosetta: released
  • Ogmios: released
  • GraphQL: released
  • DB-Sync 13.0.4 released
  • Serialization Library: successfully tested against 1.35.3; ready
  • Token Registry: successfully tested against 1.35.3; ready
  • Explorer: successfully tested against 1.35.3; ready
  • Daedalus: release with 1.35.3 expected by the end of August or early September 2022

Bugs or issues:

  • No new bugs today
  • No Sev 1-3 bugs. Total of 9 Sev4 or Sev5 (minor) bugs outstanding in backlog
  • No hard-fork blockers

Cardano Vasil Upgrade On Testnet

As earlier reported by Crypto Venture News, On July 3, 2022, Cardano (ADA) effectively performed its testnet hard fork in order to prepare for the forthcoming Vasil upgrade. This latest update indicates better scalability and also ensures performance upgrades in the blockchain network. The news on the Cardano Vasil Upgrade came as a relief to ADA enthusiasts who were earlier distressed due to the bleeding crypto market and losing their ADA investments’ value.

The Cardano Vasil hard fork that was conducted is a highly significant step undertaken for its launch on the mainnet. Moreover, this step is considered one of the main features of ADA’s Basho phase. The previous three phases were Byron, Shelley, and Goguen, focused on foundation, decentralization, and smart contracts, respectively. However, Basho’s goal is completely distinct as it aims at better scalability.

Once the Cardano Vasil Upgrade is launched on the mainnet, it will bring in a pool of scalability improvement features. These features include greater throughput or block production speed and enhanced “script performance and efficiency.” Further, the end-users will be benefited due to the low-cost network operations. Moreover, the Vasil upgrade is also set to provide compatibility between Cardano and the other existing blockchain networks.

Cardano Price Today

ada-1day-graph
Cardano (ADA) 1D Graph (Source: CoinMarketCap)

The Cardano price today was up by 2.58% as the crypto traded at $0.4766 at the time of reporting on Friday, August 26, 2022. The market capitalization of the ADA token was ₹16.2 billion, up by 3.72%. In addition, the 24-hour volume surged by a huge 53.71% and was at $753.4 million. The day’s high was $0.4816, which was much lower than the month’s high of $0.5939.

The crypto was in the ‘red’ yesterday but the recent Cardano news discussed here did turn out to be positive for it. Earlier, when the Vasil Upgrade was launched on the testnet, the ADA price stood at $0.4694, which indicates that the token managed to gain about 1.5% from July till now. Though the increase is small, it is notable as there had been several crypto crash sessions lately. Cardano managed to survive them and even saw an uptrend that many other cryptocurrencies could not.

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