At the moment Cardano is trading at $0.8476 with a surge of 0.02% over the last 24hrs but its down by 11.40% in the last seven days.
Cardano’s ADA is the ninth largest cryptocurrency by market cap with a total market cap of $28 billion.
The ADA price is set to regain a massive bull run with Cardano’s Vasil network implementation in the project. However the project is delayed by months now
Reasons For Delayed Project Implementation
The recent reports from Cardano community discussion and from IOHK’s detailed reports on Vasil hardfork is is revealed that the Cardano network will not see all features and improvements immediately.
Vasil hardfork is a decentralized application which is built on the Cardano network. The launch will be most likely delayed by weeks or even months, until Cardano-based dApps receive updates.
As per the announcement, the Plutus script’s logic reconsideration, submitting it on a new blockchain and other advantages will most likely extend to reach the specific decentralized apps with a delay
The main reason for the delayed project implementation is due to the complicated transferring process of solutions based on the current version of the blockchain to the new foundation.
Most of the users are of the opinion that active solutions like Miniswap and SundaeSwap require months together to rewrite huge amounts of scripts to make one audit.
Everytime any network tries to include new features via hardfork, the solutions based on it try to apply recent changes comparatively slowly.
For example, Ethereum’s EIP-1559 update was completely implemented by all pools only after a month later.
However, users are not happy with Cardano’s slow implementation process of new updates. This newborn smart-contract technology was announced long back in August 2021 and it’s getting recognized now.