Before the Vasil hard fork, Bitpanda will suspend ADA deposits and withdrawals

The list of exchanges that will accept the impending Vasil upgrade now includes Bitpanda, an Austrian cryptocurrency trading platform.

Earlier today, the cryptocurrency exchange emphasized that deposits and withdrawals will be temporarily suspended.

Binance, a cryptocurrency exchange, confirmed that it would support the Vasil hard fork. This was announced shortly after its U.S. subsidiary released a related statement.

A “hard fork” is a significant alteration to a particular blockchain. The Cardano blockchain does not begin from scratch as is typical for hard fork chains.

To apply new upgrades, Cardano conducts hard fork combinator events that guarantee a smooth transition rather than pausing the protocol. There is no need for significant changes because the current Cardano chain incorporates ancient blocks from earlier eras.

Cardano has launched numerous significant hard forks over the past two years. The “Mary” upgrade, which added multi-asset compatibility to the proof-of-stake blockchain, was released in March 2021. Input Output implemented the Alonzo hard fork in September of last year, making it feasible to use smart contracts and start decentralized applications.

Cardano will introduce Plutus 2.0, a new version of the blockchain’s scripting language, diffusion pipelining, and some other key advancements that will significantly increase the blockchain’s efficiency with the upcoming Vasil upgrade.

Prior to the much-anticipated upgrade, which is supposed to occur later today after multiple delays, the ADA token is up a very tiny 0.3%.