Cardano’s Vasil Hardfork launches tomorrow. Here’s what you need to know

Important fast food

  • Cardano’s Vasil upgrade will launch tomorrow.
  • Vasil is expected to make improvements to make the blockchain more scalable, efficient, and reduce transaction costs.
  • Although the upgrade has been delayed twice, Cardano co-founder Charles Hoskinson has suggested that the project is on track to launch tomorrow.

The upgrade will make Cardano more scalable and introduce many other improvements.

Cardano is waiting for Vasil

CardanoThe Vassil hard fork is finally within reach.

The long-awaited Layer 1 blockchain upgrade is set to Over five days, with the first round of promotions scheduled for tomorrow and the second for September 27.

“We don’t expect any problems, but there is no going back now,” he said. Cardano founder Charles Hoskinson during a live broadcast on September 18. “No amount of testing or anything can save us because of [the] missile in the air. It either explodes mid-air or reaches orbit, and it’s obviously going to reach orbit.”

Vasil will improve many aspects of the Cardano blockchain. According to a blog by Cardano developer Input Output Hong Kong (IOHK), Vasil will enable Cardano-based applications to become “faster and more complex,” making it easier to build on the blockchain while improving the user experience. It will also improve network expansion capabilities and reduce transaction fees.

IOHK said Vasil is Cardano’s “most significant update” to date. The hard fork was originally scheduled for June 29, but it suffered two delays to allow for more testing and debugging issues.

Last month, Cardano developer Adam Dean said that the blockchain testnet has been “Catastrophically Disabled” due to a compatibility issue with the current version of the blockchain client software. Dean suggested that the failure might have been due to IOHK’s rush to publish Vasil. “If there was an ‘atomic clock’ for Cardano, we would have been dangerously close to midnight,” he wrote after revealing his discovery.

Cardano is one of the largest blockchain networks in the world with a market capitalization of over $15 billion, according to CoinGecko data. However, the total value of the network does not exceed $79.1 million, according to data from Davey Lama. This is significantly lower than competing projects such as Ethereum ($30.87 billion), BNB Chain ($5.24 billion), Avalanche ($1.62 billion), and Solana ($1.28 billion). While Cardano fans are likely to welcome Vasil’s launch, the network’s ADA token failed to respond ahead of the event. According to CoinGecko data, it is currently trading at $0.44, down 0.4% in the past 24 hours. ADA is about 85.6% below its September 2021 high.

Disclaimer: At the time of writing, the author of this piece owns BTC, ETH, and many other cryptocurrencies.

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