Charles Hoskinson, the co-founder and one of the leading developers of Cardano, announced on YouTube that the Vasil hard fork will occur on September 22 just a week after the Ethereum merge. It has been rumored that the decision to delay the hard fork was motivated by the desire of Cardano devs to prop their network that will introduce a new scalability upgrade while ETH struggles to retain users and stability.
ADA has been slowly climbing and gaining value amidst the crypto winter that affects all assets in the industry including Bitcoin and Ethereum. However, ADA has been looking strong as users rally in anticipation of the hard fork that was planned for July but had to be delayed due to bugs in the code. Now, the event is inevitable and it poses a threat to Ethereum, according to some experts.
There are indeed some doubts about the merge of Ethereum and the beacon network. The move will change the consensus mechanism to proof-of-stake, which many users, who think that mining is an essential aspect of any crypto, do not like in the slightest. Some members of the community think that there is evidence that some large holders of ETH are planning a hard fork.
At the same time, news stories indicate that massive amounts of ETH are being moved to exchanges in preparation for what seems to be a significant selloff. The worst-case scenario was described by industry experts who believe that ETH can drop to $400 by the end of September. It will be a small catastrophe, but nothing that the whole crypto industry won’t easily survive.
These stories create a perfect opportunity for Cardano to introduce a new upgrade that will increase scalability and increase security. The change in the Cardano network may convince some power users of the Ethereum network to switch teams right after the merge. It will boost the price of ADA which is something that many holders of the token want. Thousands of people seem to be bullish on ADA and preparing for an uptrend.
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