Cardano: How Efficient is the Network After the Vasil Upgrade?
According to a Decentralized Exchange (DEX), Cardano's Vasil update (ADA) has significantly impacted network performance.
MuesliSwap, a DEX platform developed for Cardano, claims the upgrade has reduced transaction sizes from 14.73 kB to 1.31 kB and gas fees from 1.44 ADA to 0.73 ADA.
Power of Vasil! 🔥
We are close to launching our Plutus v2 scripts. Here are some amazing benchmarks showing the upgrade (combining our Orderbook with Liquidity Pools)
Plutus v1 Transaction
Size: 14.73 kB
Fee: 1.44 $ADAPlutus v2 Transaction
Size: 1.31 kB
Fee: 0.73 $ADA— MuesliSwap Team🥛 (@MuesliSwapTeam) September 29, 2022
The founder Charles Hoskinson commented on the figures cited by the exchange.
“Ten times the space savings at half the cost. That’s what I call innovation.”
Increased scalability and throughput
The Vasil Hard Fork was intended to increase the scalability of the cryptocurrency network and went live on September 22.
The Cardano Input Output Hong Kong (IOHK) development team stated the following:
“The Vasil upgrade will significantly improve Cardano’s performance and capabilities – from higher throughput through diffusion pipeline processing to a better experience for developers with significantly improved scripting performance, efficiency, and lower costs.”
IOHK also notes that “Plutus V2 functionality” became available to developers on the Cardano core network on Sept. 27.
“DApps [decentralized applications] using the new Plutus V2 scripting and cost model are already seeing the power of the Vasil upgrade.
Plutus V2’s new features and enhancements enable DApp developers to create new and exciting experiences, and diffuse pipeline processing unlocks the potential for increased network performance and capacity.”
Andrey Kunev
Reporter at CoinsPress
Andrey Kunev is a knowledgeable cryptocurrency content creator passionate about the crypto market. With extensive experience in market analysis and investment reporting, Andrey is a valuable asset to the CoinsPress team. As a frequent contributor, he offers insightful and comprehensive coverage of market trends, price fluctuations, and new advancements in cryptocurrency. Whether you're a seasoned investor or just getting started, Andrey's clear and concise writing offers a comprehensive look at the current state of the crypto market and its prospects. Stay up-to-date with CoinsPress's expert analysis and commentary on all things cryptocurrency.
