The Vasil hardfork that the Cardano community has been waiting for over the past few months should bring more to the table than some users thought. According to CTO dcsparkPorting multiple ERC20 tokens on the network was previously impossible due to the unavailable functionality of the blockchain.
With the Vasil update, Cardano will allow users to use and develop a new class of tokens: non-custodial, stablecoins and stateful tokens. The one remaining problem is that they will only be at the protocol level, and require some time for tooling.
As developers become more familiar with the new functions of Hardfork, we will begin to see the first solutions built with the use of the new functions. Cardano wallets will also start operating differently as they will need to change the way tokens are handled.
What does Vasil Hardfork bring to the table?
The massive update was one of the biggest and most anticipated things ever for the Cardano ecosystem. With the implementation of the update, Cardano will receive a number of Significant Improvement Proposals (CIPs) aimed at updating the overall performance and throughput of the network.
The small changes will affect the customization of the Cardano network and make it more developer-friendly, which is an extremely significant change for the most actively developed network in the industry.
The Cardano decentralized application is expected to become more user-friendly and optimized. The onboarding of applications which are currently in development is expected to be even more simple and straightforward.
With improved network performance, easy dApp development and interoperability, Cardano is expected to become one of the largest projects in the digital asset industry.