Cardano’s Vasil Hard Fork Finally Set For September 22

Cardano has finally set a date for the long-awaited Vasil hard fork. September 22 has been set as the date for the upgrade to be released. It will include enhancements to the Plutus programming language and promises greater scalability at a lower cost.

Charles Hoskinson, the creator of the blockchain, stated Friday on his YouTube vlog that Cardano has selected September 22 as the date for its Vasil mainnet upgrade. The hard fork has been postponed twice since it was initially slated for June of this year.

According to Cardano-associated R&D company Input Output Hong Kong (IOHK), which worked on the update, three necessary critical mass indicators have been reached.

“1. 75% of mainnet blocks being created by the final Vasil node candidate (1.35.3)  

2. approximately 25 exchanges upgraded (representing 80% of ada liquidity)

3. top 10 DApps by TVL confirming they have upgraded to 1.35.3 on PreProduction and are ready for mainnet.”

The hard fork, which will include the first significant change to the Plutus script, the programming language used for smart contracts on the Cardano blockchain, will result in increased scalability and cheaper fees, according to developers. Plutus was first introduced in the Alonzo upgrade, which was made in September of the preceding year.

IOHK wrote that, of the top 12 crypto exchanges, MEXC and Bitrue are “ready” for the upgrade, while Binance is “nearly there” and Upbit, Coinbase, WhiteBit, BKEX and HitBTC are “in progress.”

The Vasil hard fork might play a pivotal role in ADA’s future price. A recent survey revealed how experts look at the ADA’s future. The majority of the survey participants see the price going up to $2.93 by the end of 2025.

The Vasil hard fork is happening almost at the same time another highly anticipated upgrade is taking place – the Ethereum Merge, which will be launched in two stages – the Bellatrix upgrade, which will set off the final countdown, is scheduled for September 6 and the main upgrade, which will be set in motion sometime between September 10-20.

ADA, Cardano’s native cryptocurrency, is looking pretty strong, reacting to the news of the upgrade date being finally set. The price of ADA recorded a 2.73% increase, now the token is trading at $0.4568.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news:

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page


CoinCu News

970x90.gif (970×90)