Ethereum (ETH) challenger Cardano (ADA) has set a new milestone for transactions as its much-anticipated Vasil hard fork upgrade draws closer.
According to Cardano’s blockchain explorer, Cardanoscan, the smart contract platform recently surpassed the total of 50,000,000 transactions.
Data from Cardanoscan also shows that around 920,000 of these transactions have taken place in the last 15 days.
Cardano’s Vasil hard fork, set to take place on September 22, will bring the ETH rival one step closer to fulfilling its ambitions, as previously explained by ADA co-founder Charles Hoskinson.
“It’s becoming increasingly clear that the distance between us and everyone else is growing. We built Cardano to be the world’s financial operating system. We built it to transfer the unbanked.
We built it as a community to give an economic identity to those who don’t have one so we can have a global fair marketplace.
It’s a crazy mission and it feels huge, but with Vasil coming on September 22 it feels a lot more achievable.”
Hoskinson said that once the hard fork is complete, Cardano will continue to evolve as an ecosystem by becoming more portable, useful, and scalable.
The Vasil hard fork will begin just a week after leading altcoin ETH transitioned from a proof-of-work consensus mechanism to a proof-of-stake mechanism, essentially rendering mining obsolete.
The merger will reduce ETH’s token supply, make the blockchain greener, and lower transaction fees.
ADA was changing hands for $0.467 at the time of writing, down 3.6% over the past 24 hours and down 10.3% from its seven-day high of $0.521.
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