The development team behind Cardano (ADA) is confirming the date of the smart contract platform’s much-anticipated Vasil hard fork upgrade.
Input Output Hong Kong (IOHK), the team behind the Ethereum (ETH) challenger, says the update will go live on September 22nd.
[adinserter block="1"]“VASIL UPGRADE: DATE CONFIRMED.
Following the successful completion and extensive testing of all core components, plus confirmed community readiness, we along with [The Cardano Foundation] can today announce 22nd September for the Vasil upgrade on the Cardano mainnet.”
IOHK says that the Vasil hard fork is the “most significant” Cardano upgrade yet as it will greatly increase the blockchain’s network capacity and lower transaction costs. The firm also notes that Vasil will enhance Plutus, Cardano’s smart contract mechanism.
According to IOHK, the firm scheduled the launch because all the parameters they set for releasing Vasil have been met.
“We’ve been tracking well against all three metrics we and [The Cardano Foundation] set for launch:
-75% mainnet blocks being created by the final Vasil node candidate (1.35.3)
-Approximately 25 exchanges upgraded (c. 80% of ADA liquidity)
-Top 10 DApps [decentralized applications] by TVL [total value locked] confirming readiness.”
IOHK says that ADA users can expect a smooth transition.
“Thanks to Cardano’s unique hard fork combinator, we anticipate a seamless technical transition, with no disruption for its users or a break in block production. Users need take no action.”
Cardano is changing hands for $0.459 at time of writing.
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