Cardano’s Vasil Hard Fork Gets Closer With Key Stats Acquired

Cardano’s Vasil hard fork is ready when all 3 key metrics to qualify for upgraded activation have been achieved.

A September 21 update by Cardano stated that the key metrics for the Vasil hard fork activation have been achieved. Specifically, Input Output Hong Kong (IOHK) said that, 13 crypto exchanges have confirmed their readiness for the hard fork, accounting for more than 87% of Cardano (ADA) liquidity.

The long-awaited Vasil event has been rescheduled from June to now when version 1.35.2, which was supposed to be used for the upcoming Vasil hard fork, contained a critical bug that was discovered because stake pool operators rushed to upgrade on the mainnet, and it led to the creation of incompatible forks.

News of the upgrade has seen social media chatter about ADA increase by 35.16% over the past seven days from September 19 according to market intelligence platform Santiment, third behind Ripple (XRP) and Ethereum (ETH).

Once released, it will be the most significant upgrade of the blockchain, bringing functionality to smart contracts for the first time. This upgrade aims to bring improvements to smart contracts, reduce costs, and increase throughput on the network.

IOHK says one of the most important upgrades brought about by the fork is faster block generation because they can be transmitted without full validation.

Currently ADA is trading at $0.4422 , down 3.24% within 24 hours.

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.

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