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Input-Output Global Devs Reveal Cardano’s Vasil Hard Fork Is Scheduled for September 22

Input-Output Global Devs Reveal Cardano’s Vasil Hard Fork Is Scheduled for September 22

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While The Merge is expected to take place in just over ten days, Cardano’s hard fork called Vasil now has a scheduled date. The highly anticipated Cardano fork will take place on September 22, roughly nine days after Ethereum transitions from proof-of-work (PoW) to proof-of-stake (PoS).

Cardano Devs will release Vasil on Mainnet in 19 days

Cardano’s development team revealed the hard date of the upcoming Cardano (ADA) hard fork, called Vasil, after Input-Output Global (IOG) founder Charles Hoskinson explained that it would happen in September during a Twitter livestream last week.

On Twitter, IOG’s official social media account told the audience that “Vasil update date [was] confirmed.” The developers noted that codebase merging will follow “upon successful completion”. [and] extensive testing of all core components.”

The IOG further explained that the fork will be codified into the mainnet codebase on September 22nd. The IOG continued by adding:

Vasil is the most significant Cardano update to date, bringing more network capacity and cheaper transactions. The update also brings improvements to Plutus to allow developers to create more powerful and efficient blockchain-based applications.

Cardano founder Charles Hoskinson says Vasil is “the most difficult upgrade we’ve ever had to do as an ecosystem”

IOG founder Charles Hoskinson also discussed the Vasil hard fork date a live broadcast On Twitter called “Vasil is Coming 22.9.2022”. The name of the hard fork, Vasil, comes from Bulgarian Cardano community member and mathematician Vasil Dabov, who passed away recently.

During the live broadcast, Hoskinson stated that it was amazing that the randomly chosen fork day coincided with Bulgaria’s Independence Day. Four Cardano Improvement Proposals (CIPs) will be added to the Cardano (ADA) codebase.

During implementation, Vasil docks CIP-31 (reference inputs), CIP-32 (inline datums), CIP-33 (reference scripts) and CIP-40 (collateral outputs). It has been said IOG developers last May that CIP-31 reference scripts reduce ADA transaction costs.

At the time of writing, following the announcement, Cardano (ADA) is up 2.3% against the dollar in 24 hours. ADA has gained almost 10% in the past seven days and currently ADA is the 8th largest crypto market with a market cap of $16 billion.

What do you think of IOG and Charles Hoskinson announcing the Vasil hard fork release date? Let us know what you think about this topic in the comment section below.

Source: Bitcoin.com



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