cardano There are only a few hours left for the long-awaited “Vasil hard fork” of blockchain. So what do the metrics show before this big development? Here are three metrics that investors should follow closely.
The Cardano Vasil update will be completed on September 22, today. The Cardano team noted that the three “critical indicators” required to trigger the upgrade are now met.
An update posted on Twitter by Input Output Hong Kong stated that in the past 48 hours, 13 cryptocurrency exchanges have confirmed that they are ready for a hard fork, which represents over 87% of Cardano’s (ADA) liquidity.
With this latest addition we have met all 3 critical mass indicators:
💪 39 exchanges upgraded (87.59% by liquidity)
💪Over 98% of mainnet blocks are now being created by the Vasil node (1.35.3)
💪The ball Cardano #DApps by TLV have confirmed they have tested and are ready— Input Output (@InputOutputHK) September 21, 2022
One of the best exchanges for ADA liquidity coinbaseAccording to an ecosystem readiness page by IOHK, it stands out as the only exchange listed as “in progress” regarding its integration status.
However, a recent tweet by Coinbase stated that ADA transactions “Cardano Vasil hard fork He hinted that he would support the fork, saying that it would be stopped for maintenance.
Originally intended for a June launch, the Vasil upgrade has caused the launch day to be delayed twice, due to a bug that caused incompatibility issues in the latest Cardano’s previous node version.
An updated Vasil node completed all three metrics required for the upgrade, confirming their readiness for blockchain best decentralized applications (DApps), with more than 98% of mainnet blocks being created by the updated nodes.
We’re ready for the @Cardano Vasil upgrade tomorrow 😤
No downtime is expected or further actions required, sit back, relax and enjoy the upgrade🧘♀️
Any 🤔 Comment 👇
Onwards!
— Ledger Support (@Ledger_Support) September 21, 2022
According to Santiment, social media conversations about the ADA have increased by 35.16% in the past seven days since Sept.
📉 #Crypto markets have obviously taken a big hit over the past week, but it’s interesting to see where social interests have shifted. $ETH, $XRP, $ADA, $MATICand $SHIB have increased in discussions, while most other assets are being discussed far less. https://t.co/B461oasvSr pic.twitter.com/c6FVIS90gG
— Santiment (@santimentfeed) September 19, 2022
The upgrade will be the most significant update to the blockchain since the Alonzo hard fork in September last year, which introduced functionality for smart contracts for the first time. This upgrade aims to provide smart contract enhancements, lower costs and increased efficiency in the network.
IOHK said one of the most significant upgrades the fork brings is faster block generation as they can be transmitted without full validation.
The Vasil upgrade is named after the late artist Vasil Stoyanov Dabov, a Cardano community member and ambassador who passed away in December 2021 from a pulmonary embolism.
Currently, the price of ADA is trading at $0.44, down 3.4% in 24 hours, down more than 85% from the all-time high of $3.09 on September 2, 2021, according to CoinGecko. he sees.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.