Cryptocurrency News

In his Latest YouTube Video, Cardano Founder Reveals Important Details About HFC Event

Charles Hoskinson recently shared the latest updates about the Hard Fork Combinator Event (HFC) for Cardano. A hark fork is a change of protocol on a blockchain network. For Cardano, a hard fork combinatory means integrations between different phases of protocols such as Byron to Shelly transition. Charles Hoskinson, the founder of Cardano, recently uploaded a new Vlog to tell his followers all about the new deadline.

In the last video log, Hoskinson claimed that many factors are required to be fully completed before the HFC launch is possible. At present, the development team of Cardano has a fully functional node, but Hoskinson claims that further stability and risk control are still lacking. It is expected that by the 1.4 version of the node, all bugs will be fixed and every aspect will become fully synchronized.

Cardano Development Team is Working on Daedalus Wallet Upgrade

Daedalus wallet is a trustless and high-security wallet with full nodes. The developers at Cardano are trying to get the digital pocket fully integrated into the network before next Thursday. With this new storage system, Cardano users will be able to access more exchange platforms.

Charles Hoskinson mentioned in his latest vlog that the feedback from the new exchange would help in the determination of an ideal date for a consolidated opinion. This feedback is going to play an important role in the finalization of the final date for the HFC event as well. Hoskinson further added that a mid-month update would keep the stakeholders updated about any changes or confirmation.

Cardano network is planning to give the stakeholders a heads up about possible turbulence in the beginning. At present, there are two possible dates for the HFC event; one is primary and the other a fallback or abort option. In case of any issues, bugs, or glitches, the contingency date will be invoked on the network.

HFC event is triggered a week before the actual deployment date. As per Hoskison, it could occur towards the end of the current month or the start of the next one. Abort fallback date is going to follow after 7th September. If the HFC event is successfully deployed, it would allow Cardano to roll out smart contracts. Therefore, all Cardano holders and investors are looking forward to this event.

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