Cardano CEO announces the launch of the final stage of the Vasil hard fork

The upgrade will take place on September 22, but the network’s founder Charles Hoskinson said that some effects will not become visible until September 27

19.09.2022 - 12:30

414

2 min

What’s new? Input Output Global (IOG), the developer of the Cardano blockchain, has begun the final stage of activating the Vasil upgrade. The company’s head Charles Hoskinson noted that the final stage was launched after the hard fork combinator request was accepted. Although the upgrade is due to take place on September 22, Hoskinson said that some effects will not become visible until September 27 for a number of technical reasons. He also urged the community to upgrade their wallets to Daedalus 5.0.0, as it contains a number of significant fixes.

Vasil is in the Air https://t.co/usNB98ZMsZ— Charles Hoskinson (@IOHK_Charles) September 18, 2022

The Hard Fork Combinator is a protocol fusion tool developed by IOG that allows for large-scale updates to the blockchain “in the background.”

What is known about the hard fork? Vasil is designed to increase the scalability of the blockchain and accelerate the creation of blocks. The upgrade will also optimize the Verifiable Random Function (VRF), Ouroboros, and increase the network’s throughput, which will improve its performance. In addition, it will provide interoperability between Cardano sidechains. Previously, the release of the upgrade had been delayed several times.

What is known about Cardano? It is a blockchain platform created by Input Output Hong Kong (IOHK) and Ethereum co-founder Charles Hoskinson in 2017. Cardano supports smart contracts and also has the native token ADA that enables users to participate in the operation of the network. As of September 19, 11:30 UTC, ADA is trading at $0,439, having lost 8,18% overnight, according to Binance.

According to a 2022 report by marketing company MBLM, Cardano became the most recognizable crypto project, ranking 26th among the 600 brands surveyed from 19 areas in the global rankings and 4 points ahead of bitcoin.

Author: