Main navigation

Here's How Cardano Network Has Changed Since Vasil: Details

Sat, 10/15/2022 - 17:50
article image
Tomiwabold Olajide
More developments coming to Cardano dApps
Here's How Cardano Network Has Changed Since Vasil: Details
Cover image via

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

The Vasil update was triggered on the Cardano mainnet Sept. 22, while full capabilities were deployed Sept. 27.

A comparison between the current network statistics and those before the Vasil update (Sept. 16, precisely) indicates some changes to the network in terms of growth.

Currently, 102 projects have been launched on Cardano, up from 98 projects, meaning four new projects have been launched in the weeks following Vasil. Cardano native tokens are now at 6.4 million, up from 6.1 million. Token policies have grown from 61,664 to 63,064.

The number of Plutus scripts has jumped from 3,233 at the time to the current 3,474. The number of transactions grew from over 50 million to 51.8 million, implying an increase of 1.8 million. The number of projects building has grown from 1,100 to 1,120, indicating that 20 more projects have started building on Cardano in the weeks since Vasil's launch.

More developments are coming to Cardano dApps, as Cardano founder Charles Hoskinson stated in a tweet that "Hydra is coming to Cardano one DApp at a time" in response to SundaeSwap's Hydra demo.

Cardano decentralized exchange (DEX) SundaeSwap has disclosed a successful demo test of the Cardano scaling solution, Hydra, which it says represents a major leap for its scaling journey and Cardano as well.

Cardano Djed closer to launch

Djed, the algorithmic stablecoin created by Cardano and the COTI network, is now in the process of being finished. As reported by U.Today, the Djed team stated earlier that it was awaiting the Vasil upgrade that would allow for the scalability required to safely run the stablecoin on the mainnet.

Now that Vasil has successfully launched, one major thing left, according to the team, is the final audit results, which will see if any critical issues are discovered.

If there are no issues, the Djed team says it will go ahead and deploy the stablecoin on the mainnet. According to new updates from the COTI CEO, Shahaf Bar-Geffen, the final audit report for the Djed stablecoin is scheduled for the end of November.

article image
About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.