Why Cardano’s TVL is Quickly Increasing?

Cardano will have an incredible development in the near future

Charles Hoskinson, Co-Founder and CEO of IO Global, the firm in charge of Cardano’s research and development, responded to a $ADA holder’s tweet on the protocol’s Total Value Locked’s quick increase.

Many Cardano Dapps are waiting for the Vasil hard fork combinator (HFC) event, which is likely to happen in June, according to the IOG CEO, and once that happens, we could witness an even more spectacular increase in the protocol’s TVL.

On December 10, 2021, Hoskinson announced that the June hard fork will be named after Cardano ambassador Vasil Dabov, who had recently passed away. Dabov was a blockchain consultant, Haskell expert, and ginkgologist with a lot of expertise.

In a blog post published on February 28, he said: “Our February release is just the start. Throughout 2022 – and focused around June and October hard fork combinator (HFC) events – we will introduce an array of scaling enhancements. These include key elements of our scaling plan like pipelining, new Plutus CIPs, UTXO on-disk storage and Hydra. In combination with parameter adjustments, these features will enhance Cardano’s throughput and optimize the system to accommodate an increasing range of decentralized finance (DeFi) apps, smart contracts, and DEXs.“

“Plus as outlined in our recent Cardano360 February show, IOG is working across a host of new products and features, from a DApp store and a new light wallet product, to Mithril fast sync solution and sidechains. All the while an incredible community contributes new DApps, services, sites, tools and APIs to keep building out a flourishing decentralized ecosystem.“

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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