Cardano price targets $0.64 after Charles Hoskinson confirms smart contract compatibility with Vasil hard fork

Cardano trolls have criticized developers for the Vasil hard fork, arguing that all smart contracts must be rewritten to be compatible.
Hoskinson slammed trolls and assured Cardano holders that dApps built using Plutus v1 will function smoothly on the blockchain.
Analysts have set a bullish target for Cardano price, predicting a rally to $0.64.

Founder Charles Hoskinson has slammed critiques and assured the community of Cardano holders that smart contracts on the blockchain will function even after the Vasil hard fork. Cardano ranks in the top three blockchains for protocol safety and network security. Developers announced a tsunami of updates with a big impact on the technical pipeline.

Also read: Cardano hits important milestone, on track for Vasil hard fork

Charles Hoskinson slams Cardano trolls

Charles Hoskinson, co-founder of Input Output Global (IOG) which backstops Cardano, condemned trolls in his latest tweet. Crypto Twitter is rife with speculation that smart contracts on Cardano’s blockchain will fail to function after the Vasil hard fork. Trolls believe dApps on the Cardano blockchain will have to rewrite their smart contracts to function on the chain after the Vasil hard fork event.

Hoskinson slammed trolls and assured the community that Cardano’s dApps would continue to function after the Vasil hard fork. Hoskinson argues that the entire reason the hard fork combinator and Plutus versioning was built was to ensure this does not happen.

The entire reason we built the HFC and Plutus versioning is to ensure this doesn't happen. It's incredible to see the FUD and stupidity from Twitter trolls, but that's life. After the HFC event, all contracts will still function. https://t.co/S0k3BHVu19
— Charles Hoskinson (@IOHK_Charles) July 6, 2022

Cardano prepares for wave of technical updates with big impact

Duncan Coutts, Principal Technical Architect at IO Global, revealed that the Cardano blockchain has been experiencing a number of updates. The Lace lightwallet and EVM sidechains and the Vasil hard fork are the key ones in the pipeline.

Coutts recently came back to join the team at IOG and oversee the technical roadmap for Cardano. Coutts was quoted as saying,

We’re thrilled about the Vasil upgrade, and we hard forked the Cardano Testnet on Monday this week in preparation. Although ‘hard fork’ is probably a misleading term when talking about how we do updates. IOG’s unique hard fork combinator means Cardano continues through the hard fork without a “break”, and that there’s no need to stop block production – this ensures smooth upgrades to the network.

Analysts predict Cardano price rally to $0.64

Michaël van de Poppe, a leading crypto analyst and trader, evaluated the Cardano price chart and predicted a 33.45% rally to the $0.64 level. The analyst believes Cardano price could hit the two upside targets of $0.55 and $0.64 in the current uptrend.

ADA-USDT price chart

Three altcoins to watch this week

FXStreet analysts identified three cryptocurrencies to watch for bullish potential this week. For more information on key price levels and targets, check out this video:

Share: Cryptos feed

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.