Cardano's Vasil Upgrade Now Live, Making The Network A Worthy Alternative To Ethereum

Barely a week after Ethereum's transition to Proof-of-Stake, Cardano (ADA) has replied to its critics with the widely anticipated Vasil upgrade as it looks to lure more projects to its network with improved features.

Timeline of Cardano, Ethereum

Earlier this week, the host of the popular crypto market commentary show Coin Bureau discussed the pros and cons of Ethereum's recently-completed Merge upgrade. As you probably already know, on September 15, Ethereum completed its Merge upgrade, marking its transition from proof-of-work (PoW) to proof-of-stake (PoS).

The current Cardano price analysis is leading in a bullish direction. However, the price underwent a decline at the start of the week and decreased to the $0.437 level on 21 September 2022 as the bears were dominating the market.

In an interview, Cardano's founder Charles Hoskinson said that Cardano had a superior proof-of-stake (PoS) strategy over Ethereum. Charles Hoskinson gave his opinions on creating Cardano, upgrading Vasil's hard fork, launching Dapps, the LACE light wallet, decentralization, CBDC, the metaverse, and other topics.

Cardano ($ADA) has seen its social activity surge to a new all-time high after the network successfully completed its Vasil hard fork, which brought to the network faster block creation, and upgrades Plutus smart contracts for increased efficiency while allowing decentralized applications to deploy and run at lower costs.

Since the highly anticipated Merge event, Ethereum has performed poorly and was a turning point for the cryptocurrency sector. The Merge happened at the worst conceivable time, despite the expectation that it would increase investor confidence.

Crypto prices continue to remain sluggish due to aggressive monetary policies by global economies. The Bitcoin “Fear and Greed Index” still shows extreme fear as the sentiment around the largest cryptocurrency.

Ethereum's [ETH] circulating supply has dropped considerable since the much-awaited Merge. According to data from ultra sound money, the supply of the leading altcoin has increased by just 5,000 and an annualized inflation rate of 0.19% since 15 September.

The Ethereum hard fork token (ETHW) has been popular after playing off the popularity of the Ethereum Merge. The fork was carried out in a bid to keep Ethereum in its original proof of work mechanism, and the ETHW token resulted from it.

Charles Hoskinson says many projects are preparing to launch on the Cardano (ADA) blockchain after its Vasil hard fork upgrade. Hoskinson, the Cardano co-creator, says in a tweet that there are hundreds of projects announcing they will advance using ADA's new capabilities become available to developers next week.

Earlier this week, the Securities and Exchange Commission (SEC) buried a very broad and very big jurisdiction claim 69 paragraphs down in a lawsuit about a 2018 initial coin offering (ICO) it claimed was an unregistered securities offering. The case involves an ICO for SPRK tokens issued by the Sparkster blockchain project.