Binance.US Supports Cardano’s Vasil Hard Fork Upgrade

Binance.US announced that it will support Cardano Vasil upgrade and hard fork. This is an important upgrade to increase smart contract capabilities, increase throughput, and reduce costs for the network.

As was updated in an earlier Coincu News article, Cardano has finally set a date for the long-awaited Vasil hard fork. September 22 has been set as the date for the upgrade to be released. It will include enhancements to the Plutus programming language and promises greater scalability at a lower cost.

On September 20, Binance.US announced it would support the upcoming Cardano (ADA) network upgrade and Hard Fork.

According to the announcement, ADA deposits and withdrawals will be temporarily suspended on September 22, 2022 at approximately 1:45 PDT / 4:45 EDT.
ADA trading will not be affected during the network upgrade and hard fork.

Vasil’s changes to the Cardano ledger will allow inputs and UTXOs to be used in scripting contracts without having to spend them. In other words, facilitate access to information stored on the blockchain without spending and recreating the UTXO, as was the case before. An adjustment to the way reference scripts are handled allows a significant reduction in the size of the transactions running them, where this previously caused processing delays.

Other improvements after Vasil will include what is known as “diffusion pipelining“, a way to increase Cardano’s speed and scalability potential by compressing some idle time by spreading blocks ahead of time their full validation, while still validating the header.

This is the long-awaited Cardano upgrade, so there are positive signs in the price of ADA ahead of the hard fork. The price of ADA is up 2.82% in 24 hours and is currently trading at $0.4605.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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