Following Ethereum (ETH USD) Merge last night, there’s a newfound anticipation in the crypto sector. Indeed for investors in Cardano (ADA USD) and the ADA crypto there is a lot to get excited about. That’s because Cardano’s network is set to undergo a massive upgrade next.
The highly anticipated Vasil hard fork originally scheduled for June now has an official date. Interestingly, the developers behind Cardano have scheduled this launch for September 22nd. Recent reports suggest this is a firm date. This is great for investors considering this upgrade has been delayed, which is a concern for some in the Cardano community.
Building on the success of the Ethereum merger, it appears that investors are becoming increasingly optimistic about this upgrade. Although Cardano is now trading slightly lower, Cardano experienced a bang after Ethereum successfully merged its mainnet with its Proof-of-Stake beacon chain.
Perhaps the Cardano development team has adjusted to a September launch date to capitalize on the momentum following Ethereum’s success. Or maybe this upgrade has been delayed for too long and is finally ready to go. Anyway, there is a lot of interest in this hard fork.
Let’s dive into what Cardano is planning and what it means for investors.
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This Vasil hard fork appears to be ready. As with the Ethereum merge, a lot of planning went into this major upgrade. And like the Ethereum merger, delays have caused dismay among some die-hard Cardano fans.
Still, many feel that the fact that Cardano has taken its time with this major upgrade is a good thing. The scalability upgrades and potential transaction fee reductions should bode well for the network. However, if not done properly, more harm than good can be done.
Cardano’s Input Output (IOG) blockchain development lab announced that successful and extensive testing has brought them to this location. They’re feeling ready for launch, and September 22 seems like a long enough window to work out all the logistics.
From here, Cardano will certainly be an interesting sign to watch. While volatility may persist, this is a sign that I think a successful hard fork could have upside potential.
At the time of publication, Chris MacDonald held no position (neither directly nor indirectly) in the securities mentioned in this article. The opinions expressed in this article are those of the author and are subject to InvestorPlace.com’s publicity guidelines.
Chris MacDonald’s love of investing led him to earn an MBA in finance and has held a number of leadership positions in corporate finance and venture capital over the past 15 years. His past experience as a financial analyst coupled with his eagerness to find undervalued growth opportunities contribute to his conservative, long-term investment perspective.