Cardano’s Vasil Hardfork Launches Tomorrow. Here’s What You Need to Know
- Cardano’s Vasil upgrade will launch tomorrow.
- Vasil is expected to bring improvements that make blockchains more scalable and efficient, and reduce transaction costs.
- While the upgrade has suffered two delays, Cardano co-founder Charles Hoskinson said the project is expected to launch tomorrow.
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The upgrade will make Cardano more scalable and introduce several other improvements.
Cardano awaits Vasil
CardanoThe Vasil hard fork is finally here.
The much-anticipated upgrade to the Layer 1 blockchain is set to be It will take place in five days, with the first round of upgrades scheduled for tomorrow and the second round on September 27.
“We don’t expect any problems, but there is no turning back now,” said Cardano co-founder Charles Hoskinson Live September 18th. “No amount of testing or anything can save us because [the] Rocket in the air. It will either explode in the air or it will reach orbit, and apparently it will. “
Vasil will enhance several aspects of the Cardano blockchain.according to a blog post From Cardano developer Input Output Hong Kong (IOHK), Vasil will make Cardano-based applications “faster and more complex,” making blockchains easier to build while improving the user experience. It will also increase the scalability of the network and reduce transaction fees.
IOHK says Vasil is Cardano’s “most important update” to date. The hard fork was originally scheduled for June 29, but was delayed twice due to more testing and patching issues.
Last month, Cardano developer Adam Dean said that the blockchain’s testnet is “Severely broken” due to compatibility issues with the current version of the blockchain client software. Dean believes the error may be due to IOHK’s eagerness to deploy Vasil. “If Cardano had a ‘nuclear clock,’ we would be dangerously close to ‘midnight,'” he wrote after disclosing his findings.
Cardano is one of the largest blockchain networks in the world, with a market capitalization of over $15 billion, with every CoinGecko data. However, according to the data, the total value locked in the network is only $79.1 million. Defi Llama Data. This is much lower than rival projects like Ethereum ($30.87 billion), BNB Chain ($5.24 billion), Avalanche ($1.62 billion), and Solana ($1.28 billion). While Cardano fans may welcome Vasil’s launch, the network’s ADA token failed to react ahead of the event.according to CoinGecko data, which is currently trading at $0.44, down 0.4% over the past 24 hours. ADA is about 85.6% below its all-time high set in September 2021.
Disclaimer: At the time of writing, the author of this article owns BTC, ETH, and several other cryptocurrencies.