Key Facts

• The van Rossem hard fork upgrade is designed to reduce smart contract execution costs, making it more efficient and cost-effective for users to interact with the Cardano blockchain network.
• The activation of the van Rossem hard fork lays the groundwork for the implementation of Ouroboros Leios, a major scalability upgrade that is expected to be rolled out later this year, which aims to significantly improve the network's scalability and performance.
• The Cardano network's upgrade to the van Rossem hard fork is a strategic move to enhance its capabilities and competitiveness in the rapidly evolving blockchain and cryptocurrency landscape.