Fork, yes! Cardano Vasil upgrade is live

Fork, yes!  Cardano Vasil upgrade is live
Written by admin

After several months of delay, the Cardano Vasil upgrade and hard fork finally went live on Thursday at 21:44 UTC, bringing “significant performance and capability” improvements to the blockchain.

The success of the Cardano mainnet hard fork was announced on Twitter on Thursday by blockchain company Input Output Hong Kong (IOHK). observed The hard fork took place on a live Twitter Spaces with Cardano co-founder Charles Hoskinson.

IOHK previously stated that the major upgrades brought by the fork are block forwarding without full validation, allowing for faster block generation. For increased efficiency, upgrades to Plutus smart contracts also allow decentralized applications to be deployed and run at lower costs.

The new capabilities brought by the Plutus script upgrades will be available for developers on the mainnet in September. 27, after that erait currently takes about five days.

Bill Barhydt, founder of crypto trading platform Abra, described the upgrade as a “huge win for developers”. decentralized finance (DeFi) Genius Yield platform, to tweet “It was one of the most complex and important updates ever made to the Cardano network.”

The upgrade date was: Announced in early September While required by IOHK to trigger “critical mass indicators” hard fork reached in 24 hours causes the event.

Related: Post-merge Ethereum hard forks are here: What now?

Coming after months of delays and rescheduling, launch day originally scheduled for June, delayed twice due to problems in the testnet caused by bugs in a previous node version creating compatibility issues.

Following the Vasil upgrade, Cardano continues to use it as the security and settlement layer, while continuing to develop its layer 2 scaling solution, the Hydra head protocol that processes transactions from the Cardano blockchain.

Hydra’s latest update from September. 16 detailed The team addressed a known issue with Hydra nodes. The protocol does not have a set start date, but intended For some time in late 2022 or the first quarter of 2023.

The announcement of the successful launch sent the price of Cardano (ISLAND) up about 4% in the last 24 hours to $0.46, according to this Although still over 4.5% per week, according to CoinGecko data.