The Cardano developers have already announced that the Vasil hard fork will happen on September 22. The process for taking the network the Vasil upgrade is already underway. However, a few improvements related to the hard fork could only come live on September 27. This is due to a range of technical reasons, Charles Hoskinson, the cofounder of Cardano, said.
The Cardano Vasil Hard Fork Trigger
With the Vasil hard fork triggered on September 22, the Vasil upgrade will come live at the start of epoch 366 on September 27, the team said recently. On the other side, the ecosystem around Cardano network is also preparing for important update. The Vasil hard fork upgrade was named after the Cardano community member, late Vasil St Dabov. The key upgrade will bring significant improvements using Cardano’s hard fork combinator approach.
The upgrade will also enhance the network’s performance by increasing throughput, script efficiency, and reducing latency in block transmission. The Cardano team said the ecosystem is getting ready with testing. Meanwhile, as of last week, some of the top crypto exchanges showed around 55% preparedness for the hard fork. The developers, hence, are confident of triggering the hard fork at the expected time.
“Over 98% of mainnet blocks are now being created by the Vasil node (1.35.3). The top Cardano DApps have confirmed they have tested and are ready.”
On September 22, the Vasil mainnet hard fork combinator event is scheduled. Whereas on September 27, the Plutus V2 cost model would be available on the mainnet. ADA did not showcase a clear pattern of price movement over the past one month, in the lead up to the Vasil hard fork. The cryptocurrency has seen a lot of ups and downs with regular fluctuations. As of writing, Cardano (ADA) price stands at $0.466, down 3.51% in the last 24 hours, as per price tracking platform CoinMarketCap. Currently, ADA is ranked 8 among cryptocurrencies based on the market capitalization.
Difficulties During The Upgrade?
The developers said there would be no issues for ADA holders due to the hard fork. But there could be difficulties in withdrawing the holdings when crypto exchanges go through the upgrade. “Any ADA holders using exchanges or wallets will not be adversely affected by the Vasil hard fork, and should not have any concerns about their holdings. However, certain delays or service disruptions are still possible while exchanges are undergoing integration work.”
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.