- On September 22, 2022, the Vasil hard fork will be completed.
- As of Monday, a whopping 95% of blocks are already coming from 1.35.3 nodes.
For a long time, members of the Ethereum community have touted the Merge as a significant improvement to the network’s underlying infrastructure. In addition to mitigating the network’s negative effect on the environment, PoS will provide Ethereum’s native ether (ETH) token with a new use case: staking.
Due to the proximity of two major events, the crypto space was on its heels over several weeks. On September 22, 2022, the Vasil hard fork will be completed, while the highly anticipated Ethereum Merger has just now completed.
The first step in the change is the starting point for greater network efficiency and scalability. The asset has recently been trading at $1755, while in a strong upward trend. As a result, it is anticipated that the price will spiral upward, surpass the nearby barrier at $1800, and finally settle in the vicinity of $2,000 very soon.
Loans to ETH have skyrocketed, suggesting that investors are very bullish on the cryptocurrency’s potential to surge in value in the wake of the Merger. In all, more than a billion dollars’ worth of coins were borrowed.
Core Ethereum developers will keep improving the open-source network in the months and years even after the Merge, with plans to further reduce transaction costs and increase network performance and security.
Vitalik Buterin, one of Ethereum’s co-founders, has previously speculated that the full effects of The Merge won’t be seen for some time. He estimated that the price of ETH wouldn’t change until after six to eight months had passed during the changeover.
Now Focus Shifts to Cardano Hard Fork
On the other hand, according to the latest information, the Cardano platform is rapidly closing up on its fate, which is to be found in the Vasil Hard Fork on September 22, 2022. More than 94% of all mainnet blocks have been generated as of this writing by the last remaining candidate Vasil node (1.35.3).
Binance, MEXC, BitTrue, Gate.io, BTC Turk, OKX, Whitebit, etc., among others, have all signaled their preparation for the impending event. Half of the most popular Cardano dApps are also preproduction-ready, while the rest are still under testing. More than 3,000 scripts have been released on Plutus, while almost a thousand projects are under development on Cardano.
Since market optimism and development efforts are on the rise, the ADA price is also expected to soar in the near future. Thus providing a much-needed boost for investors and the whole market as well. As a result, the two most anticipated events are likely to flip the script for the whole crypto market, which might help Q4 get off on a strong note.
Cardano builder Input Output has made significant progress toward the much-anticipated Vasil hard fork. As of Monday, a whopping 95% of blocks are already coming from 1.35.3 nodes. Furthermore, as reported, version 1.35.3 was chosen to be the final node candidate for the Vasil hard fork, and the network was required to move forward with the upgrade to reach the 75% threshold. As of Sept. 12, the majority of the largest exchanges by liquidity have either integrated Vasil or started preparing for the high-stakes upgrade.
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