The Long-Awaited Vasil Upgrade for Cardano Is Now Available

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As of Thursday, September 21 at 9:44 pm UTC, the long-awaited Cardano Vasil upgrade and hard fork has gone live, bringing with it “significant performance and capability” improvements to the blockchain.

On Thursday, blockchain company IOHK announced the success of the Cardano mainnet hard fork via Twitter.

Others watched the hard fork tick over in a live Twitter Spaces with Cardano co-founder Charles Hoskinson.

IOHK has stated in the past that one of the significant upgrades brought about by the fork is the ability for blocks to be transmitted without full validation.

This makes it possible to create blocks more quickly. Upgrades to its Plutus smart contracts, which were designed to increase the platform’s overall efficiency, also make it possible for decentralised applications to be deployed and operated at reduced costs.

After one epoch, which typically lasts somewhere in the neighbourhood of five days, new capabilities made possible by upgrades to the Plutus script will be made accessible to developers on the mainnet on September 27.

In a tweet, the founder of the crypto trading firm Abra, Bill Barhydt, referred to the upgrade as “one of the most complex and consequential updates to the Cardano network ever done.” He called the upgrade a “big win for developers” with the decentralised finance (DeFi) platform Genius Yield.

The date for the upgrade was announced by IOHK at the beginning of September, and the “critical mass indicators” required to initiate the hard fork were reached within the preceding twenty-four hours of the event itself. It arrives after numerous delays and reschedules; the debut date was initially planned for June.

Due to problems on the test net brought on by defects in a previous node version that caused compatibility concerns, it was twice postponed.

The Long-Awaited Vasil Upgrade for Cardano Is Now Available

This comes after the launch day was originally slated for June. After the completion of the Vasil upgrade, Cardano is moving forward with the development of its layer-2 scaling solution, the Hydra head protocol.

This protocol processes transactions off the Cardano blockchain while continuing to use the blockchain for the security and settlement layers. The most recent update on Hydra, which was published on September 16th, detailed the fact that the team fixed a known problem with the Hydra nodes.

The launch date of the protocol has not been determined with absolute certainty, but it is anticipated to take place in the latter half of 2022 or the first quarter of 2023.

According to data provided by CoinGecko, the announcement of the successful launch caused a nearly 4% increase in the price of Cardano (ADA) over the previous twenty-four hours, bringing it to $0.46. However, the price is still down by more than 4.5% on the week.

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Mufasa
Mufasa
Mufasa is the lead writer at CryptoMufasa who likes to share all the latest info on the crypto world with you! Mufasa Enjoys enjoys a good read and recommendations so don't forget to comment on the posts and let him know.

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