ardano recently entered the top ten holdings for the 2,000 largest whales on the BNB Chain, according to data shared by whale monitoring service WhaleStats. The information was released when new developments toward the Vasil hard fork were made

The Vasil hard fork represents a significant advancement, and it will include four Cardano Improvement Proposals (CIPs). CIP-31, for example, introduces a new kind of input, a reference input, which allows looking at an output without spending it, while CIP-32 enables "simpler communication of datum values between users."

CIP-33, which proposes reference scripts "be attached to outputs, and to allow reference scripts to be used to satisfy script requirements during validation, rather than to require the spending transaction to do so," is also included in the hard fork. CIP-33 will "allow transactions using common scripts to be much smaller."

Finally, CIP-40 is included in the hard fork, which adds collateral outputs that eliminate the need for wallets to set collateral explicitly.

The hard fork was supposed to go live in late June, but it was postponed due to Terra's demise, as the team behind it wanted to be cautious before releasing the upgrade.

Charles Hoskison, the creator of the blockchain platform, has stated that the hard fork will result in a massive performance improvement, allowing ADA to maintain its development activity above that of other top cryptocurrencies over the past 30 days, despite a cryptocurrency market recovery that saw its rival smart contract network Ethereum ($ETH) rise more than 40% in a week.

Earlier this month, a panel of cryptocurrency industry professionals projected that the price of Cardano would skyrocket to $2.93 by 2025 and $6.53 by 2030. However, experts believe that the cryptocurrency will trade at just $0.63 by the end of the year.

An artificial intelligence-based price prediction model predicts that the price of the native token ADA will surge to $2.9 by September this year, representing a significant increase from the cryptocurrency's current price.


Jul 27, 2022
Crypto News

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