Charles Hoskinson Slams FUD on Smart Contracts and Vasil Hard Fork

© Reuters. Charles Hoskinson Slams FUD on Smart Contracts and Vasil Hard Fork

• Charles Hoskinson criticized traders for spreading FUD about the negative consequences of the Vasil hard fork.
• Hoskinson assured Cardano holders that smart contracts on the blockchain will continue to function smoothly after the hard fork combinator event.
• Cardano price started an uptrend and the bullish target is $0.475.

Charles Hoskinson addressed users on crypto Twitter (NYSE:TWTR) and assured them that smart contracts on the Cardano blockchain will continue functioning smoothly after the Vasil hard fork. Crypto Twitter was rife with suspicion that smart contracts will have to be rewritten after the hard fork combinator event.

Hoskinson argued that the entire reason HFC and Plutus versioning were built was to ensure this does not happen. Hoskinson condemned trolls and critics for spreading FUD in the crypto community. Duncan Coutts, IO Global’s Principal Technical Architect for Cardano, believes there is a Tsunami of updates in the pipeline for Cardano.

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

Coutts states that he is most looking forward to the Vasil hard fork. What’s more, Coutts believes IOG’s foundation in academic, peer-reviewed research makes its updates secure and high impact. There are a slew of announcements regarding the Lace lightwallet, and EVM sidechains in addition to the Vasil hard fork.

Reportedly, Coutts is thrilled to return to IOG. Coutts explained that Cardano’s developers are working on solving the issues of blockchain speed, scalability and interoperability. The team states that there are several updates in the pipeline that would improve the overall performance and efficiency of the Cardano blockchain.

Cardano price has apparently recovered from the recent slump. The altcoin is ready to bounce back. A long with the target at the top of $0.475 range could be an opportunity. At the same time, Cardano’s has recouped its losses from the last two weeks. This reveals bulls are in control and Cardano price could hit its bullish upside target soon.

ADA-USD Price Chart (Source: TradingView)

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CQ. No information in this article should be interpreted as investment advice. CQ encourages all users to do their own research before investing in cryptocurrencies.

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