The Vasil hard fork on the Cardano blockchain is scheduled for September 22! Cardano crypto investors and supporters are all waiting for it! What is it about? Blockchain developers are working hard to implement the Vasil hard fork. Several times postponed, Vasil would be on the way this time! Discover the new implementation date of the Vasil hard fork. You will also understand in this article why this update is really important for Cardano and its blockchain.
What is the Vasil hard fork?
The Vasil hard fork aims to improve the performance of the Cardano blockchain. Basically, Vasil will enable faster and more efficient transaction processing.
For this, the Vasil update plays on two main parameters. First of all, the Vasil hard fork embeds the “diffusion pipeling” technique. In concrete terms, this means that transaction information will be disseminated more quickly to network nodes.
The second important lever of Vasil touches on the very engine of smart contracts. Smart contracts are computer programs that enable the operation of an application. When the conditions provided for in the contract are met, the application runs. This is why these contracts are said to be… “smart”.
The Vasil update precisely changes the language used to program these smart contracts. This language called Plutus will thus mutate into version 2.0. This development will facilitate the work of developers.
More macroscopically, the Vasil update plays a key role in the continuation of the Cardano roadmap. As explained in a previous article, the Cardano roadmap contains 5 important phases. At present, we are in stage 3 called Goguen.
This phase essentially aims to develop smart contracts on Cardano. The Vasil update will finalize this phase and switch to phase 4 called Basho. The latter aims to improve the scalability (number of transactions per second) of the Cardano network.
Vasil hard fork postponed several times
Do we have to wait a long time before we see the implementation of Vasil? This question is in all the heads of Cardano investors. Indeed, this update is much talked about but is seriously starting to be expected. For good reason, Vasil has been postponed several times due to bugs and technical difficulties. In theory, it was supposed to hit mainnet in July 2022.
Last week, the developers of Cardano (IOHK) gave more visibility. They explained in particular that the arrival of the hard fork depended mainly on the achievement of the following three criteria:
- Criterion 1: 75% of blocks on the mainnet are produced by nodes that run on the latest version of the developed code: 1.35.3 (1.35.2 was abandoned after the discovery of vulnerabilities);
- Criterion 2: 25 exchanges (which represent 80% of liquidity) upgrade their Cardano nodes by adopting version 1.35.3;
- Criterion 3: Top 10 upgraded dApps running on 1.35.3 nodes.
The evolution of these indicators was considered favorable. So much so that the Cardano developers declared in mid-August that the Vasil hard fork was “closer than ever”. Yes, but when exactly? We now know…
The Vasil hard fork is scheduled for September 22!
The developers did not know so well to say. Two weeks later, they have even just advanced the date on Twitter! In a post dated September 2, 2022, they state that the Vasil upgrade will arrive… September 22, 2022!
“Upgrade Vasil: Date confirmed. (…) After successful finalization work & extensive testing on all core components, plus a ready community, we can announce today September 22 as the implementation date for the Vasil upgrade on the Cardano mainnet." Tweet by IOHK
In subsequent messages, the developers remind us that they always carefully monitor the three indicators mentioned above. They believe these will be achieved by September 22.
The arrival of Vasil will certainly impact the price of the crypto Cardano (ADA). In the opinion of its developers, Vasil is "the most important upgrade" to date on the Cardano blockchain.
Currently, the price of the ADA crypto is close to €0.5. Over the last 7 days, the price of the ADA coin has increased by 8.5%, making it the best performance in the world's top 10. As a reminder, the Cardano crypto ranks 7th with a capitalization that exceeds 17 billion euros.
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