CAfter the Alonzo Hark fork in 2021, Ardano recently launched a testnet of the Vasil hard fork that focuses on overall network scalability and connectivity. The founders are confident that Plutus’ smart contracts will be enhanced with the upgrade.
Cardano blockchain is expected to achieve high throughput with robust DeFi, DEX and smart contracts.
According to some experts, the price of ADA is expected to have a cascading effect from the mainnet launch which could drive up the price significantly. Furthermore, the asset is expected to exceed $1 after its launch in the last week of July. While a positive roadmap for blockchain and ADA value has been laid out, the impact emerges likely to be negligible.
After a few days of running the testnet, the FUD of the Cardano smart contract may not be compatible.
Here user Vasil highlights the flaws of the hard fork in that it is incompatible with the fork if the merchant uses a typed validator. There is no doubt that contracts will still run on the Cardano blockchain but scalability may not have a major impact. Interestingly, most smart contracts use a typed validator and users believe that the impact is negligible.
However, the community quickly jumped in favor of the blockchain and advised to wait until the mainnet was launched.
While some believe that the developers are fully aware of the issue and hence can modify the code as and when required. On the other hand, some of them believe that the changes may not be seen immediately after the mainnet, but slow growth and less congestion can be expected.
Collectively, it is a known fact that, due to the stable trend of ADA price, the asset has invited many criticisms. Furthermore, while prices were not affected after the Alonzo hard fork, many in the crypto community were busy condemning the chain. However, some maximalists still exist who highlight FUD which minimizes the negative impact on the asset.
Overall, the effect of the Vasil hard fork on the ADA price is objective and can therefore be achieved slowly and steadily.