Cardano’s upcoming upgrade, Vasil, will implement new improvements to the network to optimize its performance and scalability, in order to create a new generation of smart contracts, DApps, and DEXs.
Cardano will launch an upcoming hard fork called Vasil, which will implement a pipeline system and new Cardano Improvement Proposals, called CIPs, on the network.
The improvements that Vasil will introduce to Cardano will help the smart contract network to optimize its performance and improve its weaknesses. This update brings with it the CIP-31 and CIP-33 improvement proposals, which will arrive on the Cardano mainnet along with other important scalability improvements, to boost the performance of smart contracts, decentralized applications and decentralized finance protocols that are developed on this blockchain network.
For example, CIP-31 and CIP-33 will bring improvements to facilitate the storage and access of data and information on the blockchain. Furthermore, these improvement proposals will give Cardano the ability to reference a script without needing to include it in every transaction, helping to improve its scalability by reducing transaction sizes.
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Vasil update coming in June
Charles Hoskinson, founder and CEO of Cardano, recently announced that the upcoming Vasil upgrade will implement a number of improvements and features that will make Cardano a network blockchain much more scalable.
On his YouTube channel, Hoskinson explained that Vasil will be activated on the network as a hard fork. He said that the upgrade aims to boost Cardano's performance to make it more scalable. In this way, the upcoming upgrade will usher in a wide range of smart contracts, decentralized applications (DApps) and decentralized finance protocols (DeFi), such as the DEX, on the blockchain network.
The next Cardano upgrade is expected to arrive in June. This upgrade was named after Vasil Dabov, the network's former ambassador and its founder. cryptocurrency ADA.
Cardano's development in the Basho era
Cardano is one of the most important next-generation smart contract blockchains in the crypto industry. However, it is a scientific blockchain, the first in the industry, so its construction has been carried out in phases. Currently, Cardano's development is in the era of basho.
As outlined in its roadmap, the Basho era is focused on optimization, scalability, and interoperability of the Cardano network. Developers are looking to improve Cardano’s underlying performance to better support its growth and, thus, the adoption of high-transaction volume applications.
The Basho era will also bring with it the introduction of side chains or side chains, leading to the creation of new chains that are interoperable with the Cardano mainnet. This will allow the blockchain to be more scalable and give developers room to experiment on the chain without compromising its security and stability.
It is worth remembering that smart contracts arrived on the Cardano network last September, with the implementation of the update Alonzo. Since then, DeFi applications and protocols that have been built on the network have locked more than 217 million in liquidity, according to data from the DeFi monitoring platform Llama.
Vasil could boost the price of ADA
ADACardano’s native cryptocurrency has lost more than 20% of its value in recent weeks. The cryptocurrency’s price is currently below $1, although Hoskinson is optimistic about Vasil’s arrival.
The next major network upgrade could push up the price of ADA on the market, although time will tell what will happen to the value of this cryptocurrency.
Meanwhile, Cardano, which offers an Ethereum-like platform, promises to become one of the most flexible blockchain platforms in the industry, potentially challenging Ethereum for its place as the second most capitalized chain today.
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