Important ADA Upgrade Information
After months of delays caused by technical issues due to the Alonzo hard fork last September, Cardano (ADA) has scheduled a new hard fork for the 22nd of September 2022. A hard fork is a permanent update to a blockchain protocol that makes the new network backward-incompatible with previous blocks, often used to add or fix features of a blockchain.
The Vasil upgrade will significantly improve the capabilities of the leading proof-of-stake blockchain. With the help of Plutus V2, the upgrade will create smart contract capabilities and scripts that are attached directly to output for greater efficiency and elimination of the need for hashes while reference inputs will make it possible to share data on-chain by avoiding additional steps.
New reference scripts will make it possible for developers not to include a script in a spending transaction. Diffusion pipelining will ensure faster block propagation and significantly improve the blockchain’s performance. The 'd' parameter will be completely removed, making it possible to start re-federarion.
Vasil is the most significant Cardano upgrade to date, bringing increased network capacity and lower cost transactions.
CryptoAltum might set ADA pairs to Close Only mode for a few hours during this process, which means that no new positions can be opened. Pre-existing open positions can however be closed. We will continue to offer ADA pairs for trading for as long as we receive pricing from our liquidity providers.
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