Cardano (ADA) climbs 9% despite another delay announced in its network update

Cardano (ADA) rises 9% despite another delay announced in its network update - Cardano must rise above 4 to match Ethereums market capCardano's Input Output Global (IOG) team, which is the group that develops and manages the blockchain, announced Thursday, during its latest progress video report, that the current update of the "Vasil Hard Fork" will once again be delayed.

“We are running the final tests and benchmarks right now. We are planning the release for the testnet only. The update addresses some issues identified by stake pool operators, dApp [decentralized applications] developers, internal testers and others. The goal is to eliminate all the latest problems that will arise with Vasil's Hard Fork. We are focusing on in-depth testing, to get things right and without haste, ”said IOG's chief technical officer, Kevin Hammond.

The IOG team has not set a new date for the long-awaited live launch, except to say that it will take at least "a few more weeks". However, despite this setback, Cardano's ADA coin was trading more than 9% higher on cryptocurrency exchanges, reaching a quotation maximum of $ 0,544 in the past 24 hours, according to CoinMarketCap.

This delay follows recent assurances that there will be no further delays

As early as two weeks ago, Cardano investors expressed concerns through various social media about further delays in the update, which the IOG broadly dismissed in several media reports at the time. The update aired by the IOG yesterday is an inopportune step back and a distraction of credibility that the developer team doesn't need in its glacial-paced rollout.

As a context, Vasil's improvement was defined by the IOG as the most significant development of the Cardano blockchain to date. This coding improvement is believed to enhance virtually every aspect of the network, including its scalability, efficiency and effectiveness.

Cardano's proof-of-stake (PoS) consensus method confirms blockchain transactions in a way that is believed to require fewer energy resources, theoretically making it a better choice for climate conservation than the alternative proof-of-work model ( PoW). Some of the most popular crypto blockchains still use PoW consensus, including Ethereum, Bitcoin, and Dogecoin. However, lengthy network testing may soon test the patience of ADA owners if the update is not done quickly.

Comments (No)

Leave a Reply