Cardano price targets $0.64 after Charles Hoskinson confirms smart contract compatibility with Vasil hard fork
- Cardano trolls have criticized developers for the Vasil hard fork, arguing that all smart contracts must be rewritten to be compatible.
- Hoskinson slammed trolls and assured Cardano holders that dApps built using Plutus v1 will function smoothly on the blockchain.
- Analysts have set a bullish target for Cardano price, predicting a rally to $0.64.
Founder Charles Hoskinson has slammed critiques and assured the community of Cardano holders that smart contracts on the blockchain will function even after the Vasil hard fork. Cardano ranks in the top three blockchains for protocol safety and network security. Developers announced a tsunami of updates with a big impact on the technical pipeline.
Also read: Cardano hits important milestone, on track for Vasil hard fork
Charles Hoskinson slams Cardano trolls
Charles Hoskinson, co-founder of Input Output Global (IOG) which backstops Cardano, condemned trolls in his latest tweet. Crypto Twitter is rife with speculation that smart contracts on Cardano’s blockchain will fail to function after the Vasil hard fork. Trolls believe dApps on the Cardano blockchain will have to rewrite their smart contracts to function on the chain after the Vasil hard fork event.
Hoskinson slammed trolls and assured the community that Cardano’s dApps would continue to function after the Vasil hard fork. Hoskinson argues that the entire reason the hard fork combinator and Plutus versioning was built was to ensure this does not happen.
The entire reason we built the HFC and Plutus versioning is to ensure this doesn't happen. It's incredible to see the FUD and stupidity from Twitter trolls, but that's life. After the HFC event, all contracts will still function. https://t.co/S0k3BHVu19
— Charles Hoskinson (@IOHK_Charles) July 6, 2022
Cardano prepares for wave of technical updates with big impact
Duncan Coutts, Principal Technical Architect at IO Global, revealed that the Cardano blockchain has been experiencing a number of updates. The Lace lightwallet and EVM sidechains and the Vasil hard fork are the key ones in the pipeline.
Coutts recently came back to join the team at IOG and oversee the technical roadmap for Cardano. Coutts was quoted as saying,
We’re thrilled about the Vasil upgrade, and we hard forked the Cardano Testnet on Monday this week in preparation. Although ‘hard fork’ is probably a misleading term when talking about how we do updates. IOG’s unique hard fork combinator means Cardano continues through the hard fork without a “break”, and that there’s no need to stop block production – this ensures smooth upgrades to the network.
Analysts predict Cardano price rally to $0.64
Michaël van de Poppe, a leading crypto analyst and trader, evaluated the Cardano price chart and predicted a 33.45% rally to the $0.64 level. The analyst believes Cardano price could hit the two upside targets of $0.55 and $0.64 in the current uptrend.
ADA-USDT price chart
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Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
