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 Finder.com 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.

Source: Finder’s Cardano Price Predictions Report

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.

ADA price chart 24h. Source: Coincu.com

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: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Foxy

CoinCu News

Victor

Recent Posts

Gate.io Shatters Records in Total Trading Volume in Q3 2024, with Its User Base Surpassing 17 Million

In the third quarter of 2024, despite a challenging market environment, Gate.io maintained strong growth…

21 mins ago

MEXC Champions the Future of Crypto Content Creation at CCCC

MEXC is proud to partner with the inaugural Crypto Content Creator Campus CCCC event, taking…

21 mins ago

Dtec Announces Global Partnership with DİZAYNVIP to Elevate AI-Driven Mobility Design  

Dtec and DİZAYNVIP partner to merge AI technology with luxury vehicle design, revolutionizing smart mobility…

1 hour ago

Bitcoin Spot ETF Outflows Reach Second Highest in History

Bitcoin Spot ETF Outflows hit $541M on November 4, the second-highest single-day outflow in history.…

5 hours ago

PropiChain’s Token Presale Turns Heads as the First DeFi Platform to Merge NFTs with AI 

The hype around PropiChain’s token presale is due to its innovative integration of NFTs and…

8 hours ago

UK Pension Fund Cartwright Encourages 3% Allocation to Bitcoin Investment

UK pension fund Cartwright advised the country's first defined benefit pension fund to allocate 3%…

10 hours ago

This website uses cookies.