Cardano (ADA) creator Charles Hoskinson is giving an update on the highly anticipated Vasil hard fork for the Ethereum (ETH) rival’s blockchain.
In a new video update, Hoskinson says that major crypto exchanges are currently working on the new Cardano hard fork, and he expects more to follow.
“So the next major lift is to get the exchanges on board. Binance is reporting that they’re currently upgrading. By volume, I think that they’re about 30-40% of the Cardano trade volume. And other than that, Kraken and Coinbase and so forth tend to follow along.
Generaly what happens is that after a hard fork date is announced, you see a big rush of people push through. So what is probably going to occur is that once we hit that golden 75% of the SPOs (stake pool operators) and three to five of the major exchanges by volume, the top three or top five are upgraded or in the process of upgrading, a hard fork date will be set. Then, the rest of the exchanges feel the urgency and they start upgrading, and it’s really hard to get them otherwise. They tend to need a little bit of push for that.”
Hoskinson says that Cardano developers are making steady progress, and that the hard fork should go through at some point in September.
“Things are moving along very quickly. Extensive testing are still being done by the community and still by us. A lot of integration work is happening behind the scenes, so all of that infrastructure is looking good. Hopefully, we should be able to work with the community and get a hard fork date set soon. We’re going to have a meeting with the SPOs here in a little bit…
So sometime in September is what it looks like, unless something is discovered or we run into a substantial slowdown somewhere.”
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