Before we venture into how and why Cardano is preparing for its next hard fork, it is first important to know what exactly a hard fork is. This article endeavors to shed light on all the important aspects of Cardano that can prove to be valuable information for those associated with the crypto industry. A blockchain operates with the help of a large number of people that work together in a network. However, in certain circumstances, this group agrees with each other while in others, they disagree. Any kind of disagreement then leads to the formation of two different parties.
Learn more about the soft forks and hard fork
Therefore, a soft node is one in which a change in the software protocol occurs and the previously valid transaction blocks are made invalid. But in contrast, a hard block is responsible for bringing about strong and radical changes. In this kind of fork, the previously valid blocks or transactions can be made valid or invalid. Examples of hard forks that have become quite popular these days are Bitcoin, Bitcoin Cash, Ethereum, and Ethereum Classic.
Take a look at the features of Cardano
Those who are well acquainted with the crypto industry know what a Cardano is. It is a proof-of-stake blockchain platform that is also known to be the first of its kind that came into existence after peer-reviewed research and was established upon methods based on evidence. It is also popularly referred to as the successor of Bitcoin as well as Ethereum and is also otherwise known as the third-generation blockchain.
It is also important to learn how Cardano came into existence and what the vision behind it is. Cardano came into existence as part of the evolution of the Ethereum idea or can even be referred to as the better version of Ethereum. It is not only flexible or sustainable but also quite scalable which makes it capable enough of running smart contracts.
Let’s understand the Cardano’s Vasil hard fork
It has been referred to as the next step in the evolution of the Cardano. It is said to bring about various changes that can make it more advanced and better in many ways. It aims at improving its speed as well as scalability. If this turns out to be a success then it can very soon replace Ethereum and be the next big thing in the crypto market. It can then go on to become one of the largest smart contracts as well as the Defi platforms available out there.
They have also various other ideas in progress that I’m at making the platform even better for its users. These ideas include making the smart contracts much more efficient to make Cardano a much cheaper as well as faster option for users to use. It is going to bring about a revolution in the crypto market as it aims at solving two of the most basic great problem that my blockchain network has ever faced.
With the emergence of this platform, users have shown extreme excitement as well as enthusiasm for it. Some users were so eager to build Defi protocols on the chain, that the chain notices a huge number of users or developers herding it which led to the slow down of the system. With the huge traffic blocking the system, the speed slows down a bit which in turn makes the fees go up a little bit. However, with the latest changes that are going to be introduced in this system, these two problems are going to be solved and the platform is going to get better for users.