Cardano’s long-awaited Vasil update, which is stated by the developer team as the biggest update of the blockchain to date, has officially taken place.
The update will also reduce the transaction costs of increasing the capacity of the Cardano network. Besides that, Vasil will also improve Cardano’s smart contract functions. Thus, developers will be able to build more powerful decentralized applications (dApps) on the network.
Binance produced the first block
After Vasil hard York, the first block on the Cardano blockchain was produced by Binance.
On the other hand, cryptocurrency exchanges had suspended ADA deposits and withdrawals prior to the update. Some exchanges, especially Coinbase, have started to reopen these transactions.
It is named after the Bulgarian mathematician
The Vasil update is named after Vasil St., the leading name of the Cardano community, who passed away in 2021. It’s from Dabov. Dabov, who made major contributions to Cardano, was a Bulgarian-born mathematician.
It was constantly delayed
The Vasil hard fork, which has been postponed for a while due to errors and various trials in the Cardano blockchain, was faced with delay. Cardano founder Charles Hoskinson had argued that more testing was needed to ensure the update ran smoothly.
The number of projects has reached 7 thousand
With the acquisition of smart contract functionality, the density of projects in the Cardano network has increased. Cardano, which succeeded in attracting NFT projects to its own network, reached 7 thousand in the number of NFT projects. The trading volume in the 15 marketplaces where these NFTs were traded was also $460 million.
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