Cardano Founder Calls for Hard Fork Rollout Amid Delay Fears

  • Cardano (ADA-USD) has been caught in drama over bugs in its Vasil hard fork test network.
  • Some, including developers themselves, fret that the bugs are ruining the prospects of getting the fork shipped on its deadline.
  • Founder Charles Hoskinson remains adamant that the news is being blown out of proportion.
Cardano - Cardano Founder Calls for Hard Fork Rollout Amid Delay Fears

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Crypto upgrades are a big theme this year. As speculative investing declines due to unfavorable conditions, projects are starting to add and then add more in order to bump up their fundamental value. Ethereum (ETH-USD) and the Merge upgrade is easily the most discussed upgrade right now, especially as its mid-September release inches ever closer. But the Cardano (ADA-USD) network has been making waves too. But, several hold-ups have begun killing the buzz around the network’s Vasil hard fork. Things are reaching a boiling point, evidently, as founder Charles Hoskinson makes his displeasure about the state of the upgrade known.

Cardano has been generating buzz as the potential main adversary of Ethereum. Helping it to rise above the pack of other layer-1 networks is its pedigree. Charles Hoskinson, the founder of Cardano, is also one of the original Ethereum developers. Obviously, investors entrust Hoskinson to make a product that’s just as good. Less than a year ago, the network launched its smart contract capabilities, opening it up for decentralized application (dApp) development. In that short amount of time, it has secured over 1,000 dApps, quickly shortening the gap between it and Ethereum, which has nearly 3,000 dApps.

The fast growth of the network can be owed to its competitive speeds and scaling. That’s because it is a proof-of-stake network, allowing it to process many more transactions — and much faster — than Ethereum’s proof-of-work. With Ethereum on the verge of the Merge, though, it will also be proof-of-stake.

Cardano recognizes this and is working diligently to make its network even more appealing. One way it is doing so is through the Vasil hard fork upgrade. Though, the upgrade has been slow going; in fact, as it risks another delay, Hoskinson is airing out his frustrations.

Cardano Risks Another Vasil Upgrade Delay

The new Cardano upgrade, the Vasil hard fork, will boost the network’s usability and make dApp development even more friendly. Once executed, the network hopes to onboard even more regular users and developers to its ecosystem, bringing it ever closer to squashing Ethereum’s supremacy. But, there have been several hang-ups.

Originally slated for a June release, Vasil will raise transaction scaling even higher, allowing greater throughput to accommodate a growing user base. It will also streamline several parts of the dApp coding process, making things faster and more convenient for developers.

Unfortunately, the hard fork has been delayed several times. One pushed the release to July, another moved it to this month. After the most recent delay, Hoskinson publicly stated that Cardano didn’t expect more delays. Unfortunately, though, that doesn’t seem to be the case.

A developer of the ecosystem has recently called the Vasil test network “catastrophically broken” due to a bug that had, until this point, gone unnoticed. The bug threatens to lead to yet another delay for Vasil. This is leading to lots of bearish talk about the network, which Hoskinson is addressing.

“We of course could as a community delay the launch of Vasil for a few months to retest code that’s already been tested a dozen times,” Hoskinson says of the situation. “Is that worth it to all the dapp developers who have been waiting for this update for almost a year now?” He adds that many conflate one test network’s failure with the failure of an entire ecosystem. He also adds that he still expects the hard fork to release “imminently.”

The ADA crypto is down over 3% today as the market takes in this news. This adds to a now 20% loss for the coin over the last seven days.

On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Brenden Rearick is a Financial News Writer for InvestorPlace’s Today’s Market team. He mainly covers digital assets and tech stocks, with a focus on crypto regulation and DeFi.


Article printed from InvestorPlace Media, https://investorplace.com/2022/08/cardano-founder-calls-for-hard-fork-rollout-amid-delay-fears/.

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