The Cardano network has drawn a lot of interest over the last few years and the peer-reviewed scientific blockchain is poised to see even greater successes. Cardano enthusiasts are hoping for a moon landing thanks to the founder of the blockchain Charles Hoskinson promising that an excitement is coming soon.
More than 500 potential projects currently Based on Cardano
Since its inception on September 17, 2017 Cardano claims to be an organization that is committed to testing and research that is rigorous. After a long time, Cardano finally implemented the hard fork Alonzo which led to the creation of the concept of smart contracts (self-executing computer software).
Since since then since then, this Cardano network has also undergone important upgrades and has witnessed significant changes. For example, the number of projects based upon Cardano has now reached 517 and with NFT collections capturing the largest portion (34.7 percent).
Cardano CEO (and Ethereum co-founder) Charles Hoskinson claimed that this could be just the beginning. “A big wave will be coming following June when there is a Vasil hard fork occurs,” Hoskinson said in his latest tweet.
Moving the chains. A large wave will come after June when the Vasil hardfork happens https://t.co/TySPIBLQLi
— Charles Hoskinson (@IOHK_Charles) March 14, 2022
The Vasil hard fork — named for Hoskinson’s former friend Vasil Dabov and scheduled to the launch in June is aiming to provide a variety of enhancements to scaling to DeFi, DEXs, and smart contracts.
UTXO storage on disk Pipelining, Plutus’s new CIPs and Hydra are just some of the components that will scale in the overall plan of Cardano. These enhancements will boost the speed of transactions and allow the network’s ability to handle greater DEXs as well as decentralized applications.
A fiery ADA Moonshot, What’s The Map?
In terms of the total value that is locked up in the Cardano network the TVL keeps increasing and is currently at $195.39 million as per data supplied by DefiLlama. The majority of money is locked into the SundaeSwap decentralized exchange platform of Cardano.
ADA was at its highest point of $3.09 the 2nd of September and has fallen more than 74% since. The eighth largest cryptocurrency by market capitalization was trading close to $0.8 at the time of writing the same day, which is which is a 0.55 percent rise over the course of 24 hours.
While the ADA’s price performance might be source of concern for some members of the community that hoped for faster gains Hoskinson seems to think that the June upgrade will propel it to higher levels.