Crypto Beginner

Cardano Vasil hard fork closer to the update: IOHK

Cardano Vasil fork

Amid Ethereum’s much-anticipated Merge, Cardano has announced that its Vasil hard fork is now much closer than ever before. The fork is the next upgrade on the Cardano blockchain. The news about the Cardano mainnet update was announced via Twitter thread by Input Output Hong Kong (IOHK), the company behind the network, on 25 August.

The timeline of the fork will depend on how soon the upgrading of 75% of the mainnet blocks producing nodes running 1.35.3, around 25 exchanges, and the top ten key mainnet dApps take place. The Twitter thread revealed that Stake Pool Operators (SPOs) running the latest node 1.35.3 currently account for 40% of mainnet block production. The goal is to achieve 75%.

The Vasil Hard Fork will increase throughput on the Cardano blockchain and improve the development of smart contracts and dApps. This fork was initially set to launch on 29 June, but it has been plagued by multiple delays, much to investors’ disappointment.

The eagerness with which the hard fork is being awaited has much to do with the fact that the last two hard forks, Alonzo and Mary, were followed by ADA rallies. Cardano investors are hoping that history will repeat itself this time too.

Despite Cardano’s developers claiming that the Vasil fork is ready, some believe that Cardano is rushing the update. In recent times, Cardano co-founder Charles Hoskinson responded by saying that delaying the launch to retest again was possible for them to do, but dApp developers would not welcome the decision because they had already been waiting for a while now.

FAQs

How fast is Cardano after Vasil?

The Cardano Vasil upgrade aimed to improve efficiency and block latency speeds, enhancing the overall performance of the Cardano blockchain. While specific quantitative data on transaction speed may not be provided in the search results, the upgrade was expected to bring faster transactions and lower fees to the Cardano network. It marked a significant milestone in the evolution of the blockchain, focusing on security and scalability. For detailed and up-to-date information on Cardano’s performance post-Vasil upgrade, it is recommended to check official sources or community updates related to Cardano.

What is the Cardano Vasil upgrade?

The Cardano Vasil upgrade, launched on September 22, 2022, represents a significant development in the Cardano blockchain’s evolution. Named in honor of the late Cardano ambassador Vasil St. Dabov, this upgrade aims to scale and optimize the blockchain.

What upgrade did the Vasil Hardfork add for its users?

Improved Smart Contracts: The upgrade aimed to enhance the capabilities of smart contracts on the Cardano blockchain, with a focus on prioritizing security over speed, as explained by the chief scientist at IOG, Aggelos Kiayias.
Changes to UTXOs (Unspent Transaction Outputs): The Vasil upgrade brought about changes in the way ledger information is accessed by smart contracts by modifying the functionality of Unspent Transaction Outputs (UTXOs).
Hard Fork Combinator (HFC) Approach: The upgrade utilized Cardano’s hard fork combinator approach, allowing seamless integration of the update into the existing blockchain infrastructure.

Did the Cardano fork happen?

Yes, Cardano’s Chang Hard Fork is scheduled to take place in early 2024. This hard fork is anticipated to bring transformative changes to the Cardano blockchain, and investors are preparing for significant developments in the ADA ecosystem.

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