Cardano developers launch Vasil upgrade on testnet

Over the next four weeks, stake pool operators, cryptocurrency exchanges, and dApps teams will be preparing for the hard fork of the mainnet

04.07.2022 - 11:00

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What’s new? Cardano’s Vasil Hard Fork Combinator (HFC) was launched on the blockchain’s testnet on July 3. This was announced by Input Output, a developer company, on Twitter. Over the next four weeks, stake pool operators, app developers, and cryptocurrency exchanges will test the upgrade, after which it will be launched on the mainnet.

We’re happy to report that today at 20:20 UTC the IOG team has successfully hard forked the #Cardano Testnet. This is an important next step in the journey towards the Vasil upgrade on mainnet. 🧵1/10 pic.twitter.com/9F9vzec0pK— Input Output (@InputOutputHK) July 3, 2022

Details of the upgrade. Running the hard fork will accelerate the creation of blocks and increase the scalability of Cardano-based decentralized applications (dApps). Vasil will also optimize the Verifiable Random Function (VRF), Ouroboros, and increase the network’s throughput, which will improve its performance.

In addition, the upgrade will ensure interoperability between Cardano sidechains, which is one of the main features that the team intends to launch in the current phase of the blockchain’s development. In the next phase, it will focus on improving the network’s governance features.

How did events develop? The launch of Vasil on the mainnetwas postponed from June 29 to the last week of July due to the need o fix the seven bugs, none of which are rated as “severe” according to the developers. The launch of node 1.35.0 took place at the end of June, this is the final node on the Cardano blockchain before the hard fork.

On June 24, analysts at Santiment reported that the share of the total supply of Cardano (ADA) native tokens in large holders’ accounts (between 10 000 and 1 million ADA) had fallen from 30,5% to 27,3% in the previous three months.

As of July 4, 11:20 UTC, ADA is trading at $0,45, having gained 0,5% per day, according to the Binance exchange.

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