Cardano transaction ban on Bitpanda; Austrian exchange supported Vasil!

Like Binance, Bit Panda also limited Cardano deposits and withdrawals. Cardano transaction ban on Bitpanda is temporary and until Vasil update.

Austria-based cryptocurrency trading platform Bitpanda has joined the list of exchanges supporting the upcoming Vasyl Cardano upgrade. Bitpanda exchange confirmed that ADA deposits and withdrawals will be temporarily disabled. Austria’s Bitpanda exchange, like Binance, suspended Cardano’s deposit and withdrawal capabilities.

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Cardano transaction ban on Bitpanda

According to U.Today, the digital currency exchange Binance confirmed that it supports Vasil Cardano’s hard fork. The term “hard fork” refers to a fundamental change in a particular blockchain. Hardforked chains usually start from scratch, but this is not the case with the Cardano blockchain.

Instead of stopping the protocol to implement new updates, Cardano uses hybrid hard fork events. This is done to ensure a seamless transfer. The current Cardano chain combines old blocks from previous periods, so there is no need to make new changes.

Cardano has released several major hard forks over the past two years. The network released Mary’s update in March 2021. This update supports multiple Proof of Stake (PoS) blockchain assets. In September 2021, Input Output implemented a hard fork of Alonzo. This hard fork made it possible to create smart contracts and launch decentralized applications.

Along with the Vasil update, Cardano also releases the Plutus 2.0 programming language. This new programming language will improve pipelining and other areas of networking. The price of the ADA token is up 0.3% ahead of Vasil’s promotion, which is expected to take place later today after multiple delays.

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Source: u.today