Cardano resumes its previous status and today it went up a notch and becomes the sixth largest cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. again.
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- ADA rose more than 25% in the last 24 hours
- The Vasil hard fork is expected on June 2nd
- Cardano’s marketcap today is over USD $22 billion.
The community of Cardano must be happy. The cryptocurrency, which has not fared very well this year as it has presented price drops that even took it below USD $0.5, in the last 24 hours has rebounded.
According to data from CryptoMarkets, at this time (8:40 a.m. in New York) the price of ADA is $0.65, up 25.13% from yesterday at the same time. This is important given that in the last two months we have only seen declines. For example, those who bought on January 1st of this year have losses of 50%, even with the current increase.
In fact, it is worth noting that its price is still far from its peak price reached in September 2021 when it reached USD $3.1.
Sin embargo, hoy, con su recuperación, Cardano managed to outperform the market an area or arena, online or offline, in which commercial dealings are conducted. capitalization of the token a digital unit designed with utility in mind, providing access and use of a larger crypto economic system. XRP, deRipple, and is in 6th place among cryptocurrencies with the highest market cap, with a capitalization of more than USD $22 billion (that of XRP is USD $20 billion).
What happened to Cardano ?
The news of the recovery of Cardano precedes the long-awaited update Vasil, which is a hard fork or hard bifurcation, which is expected to improve network a network refers to all nodes in the operation of a blockchain at any given moment in time. performance and efficiency.
El lanzamiento de la red de prueba de Vasil is scheduled for this Thursday, June 2, and the mainnet an independent blockchain running its own network with its own technology and protocol. launch is scheduled for June 29th. Once it is fully launched, the update of the Vasil will represent the most significant overhaul of the network since the Alonzo hardfork in September 2021. Already Charles Hoskinson had spoken a few weeks ago of the imminence of this update.
While the update of Alonzo en 2021 le dio a Cardano smart contracting capabilities, unlocking a variety of new use cases for DeFi, the next fork of DeFi, and the next fork of DeFi. Vasil allegedly will improve the scalability and usability of the network.
Specifically, Vasil will include four proposals for improvement from Cardano, CIP31, CIP32, CIP33 y CIP40 which is supposed to rethink the logic of how the scripts are sent from Plutus de Cardano to the blockchain. Joints, CIP updates are supposed to reduce transaction fees, improve network performance and decentralization the handover of control from a central authority to several different custodians. and solve the so-called “concurrency” problem that has severely affected the scalability of applications on the blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. to date, as explained byCryptobriefing.
Bad in recent times
Although Cardano was one of the first competitors of Ethereum a decentralized open-source blockchain with smart contracts functionality. based on smart contracts to hit the market in 2017, has fared significantly worse in terms of ecosystem than most of its counterparts, highlightsCryptobriefing. It launched smart contracting capabilities long a situation where you buy a cryptocurrency with the expectation of selling it at a higher price for profit later. after other blockchains like . Solana would have already built their own DeFi a movement encouraging alternatives to traditional, centralized forms of financial services. and NFT non-fungible tokens (NFTs) are cryptocurrencies that do not possess the property of fungibility. ecosystems, and still sees significantly less activity than most other leading Layer 1 networks eight months later. According to data from Defi Flame , Cardano has about $158 million in total value locked up in its decentralized decentralization refers to the property of a system in which nodes or actors work in concert in a distributed fashion to achieve a common goal. applications, roughly 25 times less than Solana and 455 times less than Ethereum .
It is worth noting that Cardano still has a loyal community, who absolutely believe in the project and believe that it will come back. This is demonstrated by the price increase itself today, which is ahead of the hard fork.
Sources: CryptoMarkets , Finbold, Cryptobriefing, archivo
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