Cardano (ADA) price not affected by Vasil’s upgrade…Here’s what Cardano founder commented on
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Answer Cardano (ADA) price not affected by Vasil’s upgrade…Here’s what Cardano founder commented on
The price of Cardano (ADA) reached its lowest level in almost a year after Vasil’s upgrade.
Where the upgrade failed to build an upward movement.
Charles Hoskinson, founder of Cardano, believes that the Cardano network needs a certified wallet to improve decentralization and synchronization speed.
Kadano’s proposed Daedalus Turbo wallet algorithm calls for a sync time of 10x than the current Daedalus wallet.
Cardano founder shares insights into the Daedalus Turbo portfolio:
Charles Hoskinson, founder of Cardano, shared a video on The YouTube On September 28, Daedalus Turbo’s proposal for the Cardano wallet, which has now passed and has been funded with $759,000.
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The proposal claims that the Daedalus Turbo algorithm has a sync time of 10x than the current Daedalus wallet.
The proposal argues that Daedalus, which is Cardano’s central wallet, is slow and takes an entire day to sync initially and hours to re-sync when used only occasionally.
This results in an unfavorable impression of Cardano especially for new users.
Which is confirmed by “Charles Hoskinson” that is actually true for mathematical reasons.
The Cardano founder hopes to throw off the idea of a formal wallet and use the standards as a guide for developers to release certified wallets.
He added:
We hope to do away with the idea of a formal wallet entirely and instead have a certified wallet versus a non-certified wallet, and under the certification criteria, functional and non-functional requirements can be set, including user experience benchmarking and performance requirements.
It would be really nice to create some protocols to make things run faster.
That was the goal.
The community is disappointed with the passing of the technically useless Daedalus wallet proposal, also allocating 6% of Catalyst’s total budget to one proposal.
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Cardano (ADA) Price Dropped After Vasil Upgrade:
Cardano Price (ADA) failed to build momentum after Vasil’s Sept 22-27 upgrade.
In fact, the price of ADA fell to its lowest level in almost a year at $0.42 after the activation of Plutus V2.
Historically, the price of Cardano ADA has always been dropping after each upgrade.
The famous analyst “Peter Brandt” warned that the price of ADA has formed a descending triangle.
This indicates that the price may drop below $0.33.
Another analyst, Michael van de Poppe, expects the ADA buying zone to be at $0.30-0.375.
Currently, the price of Cardano has been trading between $0.42-0.55 since May 2022.
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