There are only a few hours remaining before the long-anticipated Vasil hardfork advances Cardano one step farther.
Future network scalability improvements should be possible thanks to fundamental modifications to blockchain technologies. The need for this adaption is essential because, specifically in the area of decentralized finance (DeFi), there is a limit to how many transactions can be processed per second and how quickly transactions can be completed.
The unique feature of the Vasil hardfork is that it keeps supporting legacy blockchain protocols thanks to newly created Hard Fork Combinator (HFC) technology. This offers the benefit of delaying the need for an update for node operators.
The effectiveness of new technologies like broadcast pipelining and Plutus v2 scripts in enhancing blockchain performance is still up in the air.
Originally slated to occur at the end of July, the Vasil hardfork has to be postponed indefinitely owing to a number of issues. In a few hours, we’ll find out if the designers were successful in anticipating every conceivable scenario.
Yesterday, the ADA/USD technical price benchmark for Cardano produced a daily close that was barely below the 78.6% Fibo retracement of $0.4451. However, there was a recovery after the negative momentum, not reaching the cycle low of $0.4044.
The rising rise may be extended above the barrier of the 61.8% Fibo retracement at $0.4771 if the bulls are able to complete the trading day above the 78.6% Fibo retracement.
Beyond that, there would be further possibility for rises in the direction of the $0.4995 level, which represents the 50% Fibonacci retracement. The psychological ceiling of $5.00 further strengthens this reluctance.
