Ethereum (ETH) challenger Cardano’s (ADA) much-anticipated Vasil hard fork upgrade is set to roll out today with plans for developers to use its new capabilities by next week.
Input Output Hong Kong (IOHK) and its CEO Charles Hoskinson say that the mainnet update is ready to launch.
“A joint [Input Output Global] and [Cardano Foundation] team will use the hard fork combinator to deploy Vasil at the protocol level on September 22nd. The new capabilities will become available for developers to utilize on mainnet exactly one epoch later, on September 27th.”
Hoskinson, who co-created ADA, previously said that the Vasil hard fork marks the next step of Cardano’s evolution and should improve its usefulness and scalability.
“Moving forward, there’s going to be a big retrospective on how we do things better. There’s also going to be a deep conversation about the overall architecture of Cardano as it is, and how we take it to the next level to make it more useful, portable, scalable and better for everybody…
It’s becoming more clear that the distance between us and everyone else is growing. We built Cardano to be the financial operating system of the world. We built it to bank the unbanked. We built it as a community to give economic identity to those who don’t have it so we can have one global fair marketplace.
It’s a crazy mission, and it feels vast in scope but with Vasil coming on September 22nd, it feels that much more achievable.”
The upgrade has prompted many prominent crypto analysts, such as Michaël van de Poppe and Benjamin Cowen, to predict rallies for the smart contract platform. Cowen said he expects ADA to reach $0.60 while van de Poppe said that a $1.00 price tag isn’t out of the question.
In preparation for the hard fork, crypto exchange titans Coinbase and Binance announced that they would pause ADA transactions during the upgrade.
ADA is moving for $0.45 at time of writing, a 1.2% gain on the day.
Follow us on X, Facebook and Telegram
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/ValDan22
