Charles Hoskinson, co-founder of Cardano and one of its most prominent developers, made the announcement on YouTube that the Vasil hard fork will take place on September 22, just one week after the Ethereum merge takes place. It has been speculated that the decision to delay the hard fork was prompted by the desire of Cardano developers to support its network, which will introduce a major scalability update while ETH battles to retain users and reliability. This speculation has not been confirmed by the
developers of Cardano.
In the midst of the ongoing crypto winter, which impacts the prices of all assets within the sector, including Bitcoin and Ethereum, ADA has been steadily moving upward and increasing in value. However, ADA has been looking strong as users rally in anticipation of the hard fork that was intended for July but had to be delayed due to issues in the programming. Now, the event is inevitable and it poses a threat to Ethereum, according to some experts.
There are, to be sure, certain concerns regarding the proposed combination of Ethereum and the beacon network. The move will change the consensus mechanism to proof-of-stake, which many users do not like at all because they believe that mining is an essential component of any cryptocurrency. A portion of the community is of the opinion that there is evidence to suggest that significant holders of ETH are conspiring to carry out a hard fork.
At the same time, news articles indicate that enormous amounts of ETH are being shifted 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. There will be some damage done, but nothing that the cryptocurrency industry as a whole won’t be able to easily recover from.
Because of these stories, Cardano now has the ideal opportunity to roll out a brand-new upgrade that will both improve its ability to scale and enhance its level of security. It is possible that the modification made to the Cardano network will persuade certain power users of the Ethereum network to swap sides immediately following the merge. It will boost the price of ADA which is something that many holders of the token want. It appears that thousands of people are positive on ADA and getting ready for an upswing in the price.