Cardano creator shared a normal picture of the reality that Cardano blockchain Network will gain after the success of Vasil Hardfork.
Cardano blockchain is a popular Proof-of-stake consensus model-based blockchain network, which is dedicated to making the Cardano crypto network a leading choice for businesses in the payment system. Initially, Cardano was launched as a rival crypto project to Ethereum but still, it is struggling to take the position of Ethereum rival because of the high competition in the crypto market, especially because of the Solana blockchain.
At present, Input Output Hong Kong (IOHK) is tirelessly working to make the Vasil Hardfork successful. The exact date of Vasil Hardfork is 22 September and the success of this Hard Fork will invite huge numbers of features in the Cardano Blockchain network.
Just a couple of days ago, Cardano creator Charles Hoskinson shared a table to explain the former achievement that Vasil Hardfork will bring to the Cardano Blockchain network.
According to the shared table, NFT direct sell fees will reduce from 1.68 ADA to 0.397 ADA, which means 76% fewer fees will be required to pay for the NFT users in the Cardano Blockchain ecosystem to sell a NFT.
And also almost the same fees will be required to in case to sell the NFTs collectibles via a bid in the Cardano Blockchain.
Hoskinson noted that it is only a single example that Vasil Hardfork will bring. He also noted that improvement in these features will allow other existing DApps in the Cardano blockchain environment to improve their ability to process services and with all these things Djed stablecoin protocol will be introduced as an additional new feature.
Few experts noted that such scalability & efficient development works in the Cardano Blockchain will ultimately decrease the earnings of the Cardano team and if the Cardano blockchain will get the achievement to increase the users base & transactions traffic by 4 times then it will be possible for the team to make earning equal to what they are earning in present time.
So in short:
Revenue from these Txs will be 4 times smaller .
So Txs have to go up by 4X to make up of that loss.
Because Txs take 13X less space, after Txs increased by 4X , they can go up another 3X to fill blocks.
= revenue can go up by 3X if enough Dapps fill blocks with Txs— Eenmakkie
(@eenmakkie) September 7, 2022
(@eenmakkie)
Read also: Crypto projects have strong fundamentals but the market is painting a different picture: Hoskinson
Cardano NFTs sell fee will be upto 0.397ADA ($0.25) only, after Vasil Hardfork
https://bitcoinik.com/cardano-nfts-transaction-fees-will-be-upto-0-25-only-after-vasil-hardfork/feed/
https://bitcoinik.com/cardano-nfts-transaction-fees-will-be-upto-0-25-only-after-vasil-hardfork/feed/
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