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Cardano Performance Changed Significantly After Vasil Hard Fork, Here Are Detailed Insights

Sat, 10/08/2022 - 09:30
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Gamza Khanzadaev
Cardano blockchain insights show rather uplifting figures after Vasil hard fork
Cardano Performance Changed Significantly After Vasil Hard Fork, Here Are Detailed Insights
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Two weeks after the Vasil hard fork, the biggest event in Cardano's life to date, it could be argued that the update has had a rather positive effect on the blockchain performance, and detailed insights confirm this.

A glance through the overview section of the Cardano Fans Stake Pool page reveals a steady increase in the number of ADA wallets and a slightly lagging increase in the number of delegators who have put their ADAs on staking.

One can also note an increase in the number of transactions, which was generally the case before the Vasil hard fork. However, a particular move in the number of Cardano transactions being processed was made Sept. 25, and so far this momentum has continued.

Moreover, Cardano has approached the threshold of including more payments in a single transaction, which was also noted recently by Cardano's founder, Charles Hoskinson.

Finally, qualitative and quantitative changes have taken place with Cardano's smart contract platform, Plutus. According to the portal, 100 new smart contracts have been implemented on the platform since the Vasil hard fork was introduced. The total number of Plutus-based smart contracts has now reached 3,392.

Cardano Distributed 16,164 ADA to 217 in Only One Transaction, Here's How

Less pleasurable effects

However, there are also negative changes that have occurred since Sept. 22. Cardano's total value locked (TVL), for example, has significantly tapered. The cumulative outflow in TVL on various platforms after the Vasil hard fork attack was $3 million. We can also see a significant drop in ADA trading volumes of almost $1 billion, which generally describes the attitude of anxious investors in the turbulent crypto market.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.