Cardano explodes its Total Value Locked due to the upcoming Vasil hardfork

The Cardano’s Vasil hardfork in June

Cardano (ADA) has scheduled a hardfork for the summer of 2022, with the goal of expanding the Cardano protocol’s transaction, volume and liquidity.

The Vasil hardfork, named after Hungarian mathematician Vasil Dabov, who was also a Cardano community member, is scheduled for June 2022 and will introduce diffusion pipelining.

Cardano’s researcher Matthias Fitzi explained the concept in the blog post that “the recent enabling of smart contracts on Cardano has led to a significant increase in user activity,” as well as the growth of “average transaction sizes.”

“To keep up with this elevated demand, the system’s current transaction throughput must be increased,” he added.

Cardano’s TVL (Total Value Locked) now hits over $300 million, according to DefiLlama.

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