Cardano (ADA) crashes due to technical problems… Basil’s hard fork concerns rising

[뉴욕=박재형 특파원] While most of the major stocks in the cryptocurrency market fell to a large scale, Cardano (ADA), which had been strong recently, plummeted, drawing attention to the background.

On CoinMarketCap on the 19th (local time), Cardano fell 14.6% to $0.46 before leaving the New York market.

While Bitcoin and Ethereum fell by 8% or more, and many major stocks plunged more than 10%, Cardano is showing the biggest drop.

Source: CoinMarketCap

According to YouTube, Cardano’s plunge is analyzed as a major factor in the technical problem of the network, unlike other stocks.

Cardano’s developers said the bug had occurred on a live testnet ahead of the network’s Vasil hard fork.

The explanation is that while the mainnet was creating incompatible forks, operators hadtily implemented upgrades, reducing chain density.

Also, despite finding bugs, the testnet remains in a compromised state as most operators upgraded to compromised nodes to simulate a hard fork.

According to YouTube, the problem that occurred in the Basil hard fork, which was the main driver of the market rebound, might have irreversible consequences for Cardano.

Breaking news via Block Media Telegram (click)

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