Cardano Vasil hard fork is right on time, developer debunks possibility of delay
- Cardano developers assured the community that Vasil hard fork is on schedule, with no anticipated delay.
- Cardano price has struggled to recover despite a spike in development activity close to the scheduled hard fork.
- Analysts predict a further decline in Cardano price and believe ADA could drop to support at $0.31.
Vasil hard fork is now imminent, and the technical director of open-source development at the Cardano Foundation revealed that the node, ledger, network and consensus appear to be stable so far. Despite these positive developments, crypto analysts believe Cardano price could plummet to support at the $0.31 level.
Vasil hard fork development is on track
While traders on crypto Twitter are speculating a delay in Cardano's Vasil hard fork, KtorZ, the technical director of open-source development at the Cardano Foundation, assured the community that development is on track.
Input Output Global, the development team behind Cardano, recently announced that the Vasil upgrade is the team's most ambitious program to date. Vasil upgrade involves close collaboration with many ecosystem projects, and IOG is working with the Indigo protocol and Dquadrant.
Looking at the issues, Vasil might not be ready on mainnet at the end of July. Another 2-4 weeks delay I guess. #Cardano $ADA https://t.co/8lTDoXlFae
— $sugiggs (@sugiggs) July 13, 2022
KtorZ was quoted as saying,
Most of the bugs reported here concerns the `cardano-cli` which is "just" the command-line utility and the Haskell high-level interface interface. So far, the node itself, i.e. the ledger, network and consensus bits seem pretty stable.
There are over 1,000 dApps under development on the Cardano blockchain, and the growth of the altcoin made it necessary for it to be upgraded. The Cardano network has seen an influx of developers looking to build on its platform.
Development activity on the Cardano network picked up the pace with higher Github commits than competitors – Ethereum, Solana and Avalanche. However, analysts believe Cardano price could plummet. Cardano remains at risk of collapse to support at $0.31.
FXStreet analysts noted that Cardano price fumbled after forming a bullish setup, setting new targets for the altcoin. For more information, watch this video:
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.
