Cardano ADA/USD is a blockchain platform that serves the role of enabling decentralized application (dApp) development with a multi-asset ledger alongside verifiable smart-contract functionality.
Cardano utilizes the proof-of-stake (PoS) consensus mechanism known as Ouroboros, and the developments are informed by scholarly and academic research.
One of the latest upcoming developments is the Vasil hard fork.
The Vasil hard fork as a catalyst for growthOn April 7, we covered ADA’s value evolution after Revuto announced their Cardano-native staking pools.
On April 12, 2022, Charles Hoskinson, who is the Founder of Cardano, posted a YouTube video on his channel where he essentially explained the new update which will make Cardano better after the Vasil hard fork.
Specifically, at the start of the video, Hoskinson mentions that he was preparing for the upcoming Consensus 2022, which will take place in Austin, Texas, from the span of June 9 to June 12.
Alongside that, we saw an announcement that the Vasil hard fork, which is named after his late friend and ADA ambassador, Vasil Dabov, will take place sometime throughout June and bring massive performance improvements to the Cardano network.
Alongside this development, Cardano’s IOG team is working towards offering new products as well as features to its users, such as a dApp store, a new lightweight wallet as well as bridges that will allow for moving assets from a Layer-1 chain to separate sidechains.
Should you buy Cardano (ADA)?On April 14, 2022, Cardano (ADA) had a value of $0.9732.
In order for us to get a better perspective of what kind of value point this indicates for the Cardano (ADA) token, we will be going over the token’s all-time high point of value alongside its performance in March.
When it comes to its all-time high value, Cardano (ADA) had its ATH on September 2, 2021, at $3.09. Here we can see that at its ATH, the token was $2.1168 higher in value or by 217%.
However, when we look at the performance of the token last month, Cardano (ADA) had its lowest point of value on March 14 at $0.7854.
Its highest point was on March 28 at $1.2405. Here, we can see that the token increased in value by $0.4551 or by 58%.
With all of this in mind, ADA can reach $1.3 by the end of April, making it a solid buy for the time being, but with the Vasil hard fork launch in June of 2022, the value could increase to $2, making it an even more appealing token to get prior to the development.
The post What can we expect after Cardano’s Vasil hard fork? appeared first on Invezz.
