The project team assures that the transition will be completely “seamless”

Final release date for the Vasil upgrade on the Cardano network has been announced

03.09.2022 - 07:30

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2 min

What’s new? Cardano’s blockchain development team has called the final release date for the Vasil hard fork — September 22. The project team assures that the transition will be “seamless,” and that there will be no delays or glitches in the process itself. According to the developers, about 25 exchanges have already upgraded to the new version of the network, they are also joined by 10 decentralized applications (dApps).

What is known about the upgrade? Previously, the release of the upgrade had been repeatedly delayed. That said, the founder of the blockchain Charles Hoskinson stated that it is currently in the final stages and developers are fixing minor bugs to ensure security.

The Vasil hard fork was originally scheduled to be released on June 29, but according to Hoskinson, the upgrade proved to be too complicated. On August 26, the network’s founder reported that developers and the community were testing the 1.35.3 node, with no problems seen with integration or infrastructure.

The Vasil hard fork 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 ensure interoperability between Cardano sidechains.

Cardano 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 3, at 09:45 UTC, ADA is trading at $0,46, having gained 2,78% overnight, according to Binance. The asset ranks eighth in the list of cryptocurrencies by market capitalization with a figure of $17,3 billion.

In a survey by research firm Finder, analysts said that the ADA rate would rise by 570% to $2,93 by the end of 2025. 37% of respondents expect the upcoming Vasil hard fork to have a positive impact on the ADA rate. By contrast, 17% believe the upgrade will lead to a drop in prices.

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