In a series of tweets over the weekend, the Input Output Global (IOG) team in charge of coding the Cardano blockchain software (quotation ADA) announced the progress made in the latest update of its crypto network. In particular, the team announced the successful implementation of the Vasil Hard Fork on the blockchain test platform, a critical step towards real-time launch to all users.
The tweet also called on cryptocurrency exchanges, application developers and stake pool operators (SPOs) to engage in the final preparation work for the final integration of the new and improved Cardano blockchain.
“The @cardanostiftung and IOG teams will work closely with exchanges and DApp / tool developers during this process. As soon as we are sure that the ecosystem partners will feel comfortable and ready, we will present an upgrade proposal to upgrade the #Cardano mainnet to #Vasil ”, reads one of the tweets.
In a separate post on yesterday's IOG blog, the developers claim that the benefits of Vasil's improvement include increased functionality, speed, throughput, and compatibility with other networks for Cardano thanks to the improved features.
“Vasil's upgrade is the most ambitious work program we have undertaken. And the whole community is involved. Our primary concern is to ensure that this update is handled safely and securely, ”the Twitter thread reads.
How Cardano differs from Bitcoin and Ethereum
Cardano's proof-of-stake (PoS) consensus method, originally introduced in 2017, requires less energy to validate blockchain transactions, making it a better option for the environment than the proof-of-work (PoW) model . Many of the most popular crypto blockchains still rely on PoW, including Ethereum, Bitcoin, and Dogecoin.
At the time of writing, Cardano ADA's native token was up nearly 5% following the news, with a price tag of $ 0,4697 per coin and a 42% increase in trading volume. According to CoinMarketCap, the cryptocurrency market has seen an increase of about half.