Cardano (ADA) Price Falls After Vasil Hard Fork, Charles Hoskinson Has This To Say

Cardano (ADA) price almost hit a year-low after the Vasil hard fork as the upgrade fails to build a bullish movement. Cardano founder Charles Hoskinson believes the Cardano network needs a certified wallet to improve decentralization and sync speed. The proposed Cardano wallet algorithm Daedalus Turbo claims 10x sync time than the current Daedalus wallet.

Charles Hoskinson Shares Insights on Daedalus Turbo Wallet

Cardano’s founder Charles Hoskinson in a YouTube video on September 28 shared the Cardano wallet Daedalus Turbo proposal, now passed and funded with $759,000. The proposal claims the Daedalus Turbo algorithm has 10x synchronization time than the current Daedalus wallet.

The proposal argues Daedalus, the centralized Cardano wallet, is slow and takes a whole day to sync initially and hours to resync when used only occasionally. This results in an unfavorable impression of Cardano for new users. Charles Hoskinson says this is indeed true due to computing reasons.

He hopes to get rid of the notion of an official wallet and use the standards as a guide for developers to release certified wallets.

“We hope to get rid of the notion of an official wallet altogether and instead have a certified wallet versus non-certified, and under the certification standards, you can put functional and non-functional requirements, including benchmarking and performance requirements for user experience. It would be really cool to build some protocols to make things run faster. That was the point.”

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The community is disappointed with the passing of the proposal for building a technically infeasible Daedalus wallet. Also, allocating 6% of the total Catalyst budget to a single proposal.

Cardano (ADA) Price Falls After Vasil Hard Fork

Cardano (ADA) price has failed to build momentum after the Vasil hard fork on September 22 and 27. In fact, the ADA price tumbled to almost a year-low of $0.42 after the Plutus V2 activation.

Historically, the ADA price had always tumbled after every hard fork. Popular analyst Peter Brandt warned that the ADA price has formed a descending triangle. It indicates the price could dive below $0.33.

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period and is currently covering all the latest updates and developments in the crypto industry.

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