One of the most anticipated updates of the crypto industry has been 'The Merge'. The jump to Ethereum 2.0 was carried out successfully, but the macroeconomic situation has caused the price to drop. After this transition, the eyes of the industry have come to rest on another update as it takes center stage. It is of course Cardano's Vasil upgrade.
Today, September 22, the ADA hard fork will take place, which promises a very big step forward for the project. A multitude of initiatives have been awaiting this moment to include their dApps on the Cardano blockchain. A series of improvements that will be focused on the smart contract platform of the blockchain, Plutus.
These procedures in Plutus will be integrated into the network through the different CIPs, the Cardano Improvements Proposals. Hopes runs high for the platform supported by Charles Hoskinson, as followers have been expecting this for a long time. The complete change of the protocol was expected for the beginning of summer, for the months of June and July, but various problems delayed its launch to this month of September.
What new functionalities will Vasil bring to the future of Cardano? These are some of them:
- From now on online data can be stored directly on the network. Currently, that data was not stored on the blockchain. This will promote greater decentralization and faster communication, as data storage is improved.
- Vasil will allow you to insert scripts on the network, and then interact with them through a reference, facilitating interaction with a smart contract. The benefits of this process will be seen in transaction costs, reducing them, and increasing efficiency in the validation process.
- In the current Cardano network, collateral is required to be able to send a Plutus transaction. If this fails, the user would be faced with losses. Implementing one of the new CIPs, the collateral taken will be just enough to cover the TX, avoiding major losses and improving the UX.
If everything goes well and the Vasil update is implemented effectively, Cardano will move up a level and see its network optimized making it faster, more scalable, and with greater flexibility to create more powerful dApps. Until September 27, not all functions can be used. We'll have to wait and see what happens.