Cardano Vasil might aid positive inflows into DeFi ecosystem
According to cardano dailyTVL on Cardano, the Cardano community-focused Twitter account, has remained largely unchanged over the past few weeks. MinswapDEX continues to lead the DeFi ecosystem with a total value locked of $41 million.
It notes that this narrative may change with the upcoming Vasil update as the Cardano network might be able to “handle a large number of transactions, improving the scalability of the network. In the long term, it would attract new money towards the ecosystem.”
In March, as reported by U.Today, Cardano founder Charles Hoskinson commented on the development of the ecosystem, noting that many decentralized applications (dApps) await the launch of the Vasil hard fork to benefit from pipelining. Was doing.
According to recent statistics from IOG, 1,075 projects are building on Cardano, implying a lot of dApps are underway to be deployed on the mainnet.
Vasil to improve
According to DeFiLlama’s ranking of decentralized financial platforms, Cardano is far from catching up with other major networks such as BSC, Avalanche and Tron. At the time of publication, Cardano had a TVL of $80 million.
The Vasil upgrade hopes to bring greater functionality, performance, scalability and interoperability to Cardano through new features and improvements.
The upgrade will enhance smart contracts and is part of the Basho phase of the Cardano roadmap, which focuses on scaling and network and ledger optimization, thus enhancing Ledger in a number of ways. Vasil will introduce eagerly awaited features like HFC, Cardano’s core smart contract language, diffusion pipelining and improvements to Plutus.
