The upgrade reduced the cost of transactions and increased the throughput of the blockchain

Cardano successfully activates the Vasil hard fork

23.09.2022 - 08:15

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2 min

What’s new? On September 22, at 21:44 UTC, the Input Output Global (IOG) development team activated the Vasil hard fork on the Cardano mainnet. However, some changes will not take effect until September 27. In the upgrade, the developers added a second version of Plutus scripts and modified the cost calculation model for each primitive. This made it possible to reduce the cost of executing scripts and the size of transactions, as well as increase the network’s throughput by about 20-30%.

What else is known about the upgrade? The participants of the network report that the blockchain successfully passed stress tests after the activation of the hard fork.

The increase in bandwidth on Cardano was achieved due to the so-called diffusion pipelining — the optimization of block propagation time.

Cardano is a blockchain platform created by Input Output Hong Kong (IOHK) and Ethereum co-founder Charles Hoskinson in 2017. Cardano supports smart contracts and also has the native token ADA that enables users to participate in the operation of the network. The asset ranks eighth in the cryptocurrency ranking with a capitalization of $15,93 billion, according to CoinMarketCap. As of September 23, 09:10 UTC, ADA is trading at $0,4634, having gained 3,14% in 24 hours, according to cryptocurrency exchange Binance.

According to a 2022 report by marketing company MBLM, the Cardano blockchain became the most recognizable crypto project, ranking 26th among the 600 brands surveyed from 19 areas in the global rankings and 4 points ahead of bitcoin.

Author:

Vasiliy Smirnov Vasiliy Smirnov

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