Oluwapelumi is a believer in the transformative power Bitcoin and Blockchain industry holds. He is interested in sharing knowledge and ideas. When he is not writing, he is looking to meet new people and trying out new things.
The introduction of the Vasil hard fork is scheduled for June.
Ahead of the official release of the Vasil hard fork, Cardano founder, Charles Hoskinson, has opened up on the specific features users should expect.
Hoskinson, who is the co-founder and chief executive officer of IO Global, the group responsible for Cardano’s research and development, revealed this update to HODLers of $ADA in a video posted on his official YouTube channel.
According to him, the new update to the Cardano setup would represent a “major major major major” change, a deliberate repetition that seeks to lay emphasis on the level of impact it would have on the network.
Speaking further in the video, the crypto expert revealed that the introduction of Vasil hard fork, an initiative named after his late friend and ADA ambassador Vasil Dabov, has been scheduled to be held in June.
A period, which according to him, will mark the arrival of a massive performance improvement to the Cardano platform.
“As many of, you know, a major major major major major hard fork combinator event is happening in June, which is the Vasil hard fork, and that is going to contain pipelining [one of the pillars supporting Cardano’s scaling], which will be a massive performance improvement to Cardano,” Hoskinson said.
Before the release of this new video, Hoskinson had previously revealed that the new hard fork would mark the introduction of an array of new features ranging from scaling improvements pipelining and new Plutus CIPs to UTXO on-disk storage and Hydra.
Speaking specifically on Pipelining, the company’s Architecture Director at IOG, John Woods described it as an effective evolution in Cardano’s ‘plumbing’.
“It is a key element in our scaling plan this year, one in the series of published steps covering our methodical approach to flex Cardano’s capacity as the ecosystem grows,” Woods explained in a February 1 blog post. “Pipelining – or more precisely, diffusion pipelining – is an improvement to the consensus layer that facilitates faster block propagation. It enables even greater gains in headroom.”
Cardano Is One of the Best Performing Blockchains
The crypto market might currently be in a bear zone but one of the best-performing assets in recent weeks has been Cardano’s ADA.
Per available information, the network recently performed more transactions than the Ethereum and Bitcoin blockchains combined. Not only that, its transaction fees pale significantly against these rivals showing that transactions are not only faster on it but also cheaper.