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Input Output Hong Kong Confirms Official Date of Cardano’s Vasil Hard Fork Upgrade

Input Output Hong Kong Confirms Official Date of Cardano’s Vasil Hard Fork Upgrade

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The Cardano (ADA) development team confirms the date of the expected Vasil hard fork update of the smart contract platform.

Input Output Hong Kong (IOHK), the team behind the Ethereum (ETH) challenger, says update will be released on the 22nd. September

“VASIL UPDATE: DATE CONFIRMED.

After the successful completion and extensive testing of all core components and confirmed community readiness, we together [The Cardano Foundation] can today announce the September 22 Vasil upgrade to the Cardano network.”

IOHK says the Vasil hard fork is the “most significant” Cardano upgrade to date, as it significantly increases the blockchain’s network capacity and lowers transaction costs. The company also notes that Vasil enhances Plutus, Cardano’s smart contract mechanism.

According to IOHK, the company scheduled the release because all the parameters set by Vasili for release have been met.

“We have tracked well against all three metrics [The Cardano Foundation] set for release:

-75% of the mainnet blocks were created by the final Vasil node candidate (1.35.3)

-About 25 exchanges updated (about 80% of ADA’s liquidity)

– Top 10 DA Apps [decentralized applications] in TVL [total value locked] strengthen readiness.”

IOHK says ADA users can expect a smooth transition.

“Thanks to Cardano’s unique hard fork combinator, we expect a seamless technical transition without disruption to users or interruption of block production. Users don’t have to do anything.”

Cardano is changing hands at $0.459 at the time of writing.

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Featured image: Shutterstock/Fortis Design/Mingirov Yuriy



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