Cardano Upgrade: Vasil Hard Fork Timing And Details In Full

Cardano will go through its eagerly awaited Vasil hardfork over five days beginning on September 22. The update will increase Cardano’s scalability and bring forth some other enhancements.

The eagerly awaited upgrade to the Layer 1 blockchain is scheduled to happen over five days, with the first round of changes taking place on September 22 and the second on September 27.

VASIL UPGRADE: DATE CONFIRMED 💪
Following the successful completion & extensive testing of all core components, plus confirmed community readiness, we along with @cardanostiftung can today announce 22nd September for the #Vasil upgrade on the #Cardano mainnet. 🧵$ADA
1/9

— Input Output (@InputOutputHK) September 2, 2022

Charles Hoskinson, a co-founder of Cardano, remarked during a live stream on September 18, “We don’t anticipate there will be any issues, but there’s no going back now.” Because the rocket is in the air, no amount of testing or anything else will be able to save us. It will undoubtedly enter orbit unless it explodes in the atmosphere.”

Vasil plans to improve several Cardano blockchain features. Vasil will enhance the speed of Cardano applications and offer more advanced features, making the blockchain easier to build and betterbettering the user experience. Additionally, it will reduce transaction fees and improve the network’s capacity for growth.

Vasil is now Cardano’s most major update. To allow for additional testing and fixing concerns, the hardfork was delayed twice from its intended June 29 start date.

Adam Dean, a Cardano engineer, said last month that a compatibility problem with the blockchain’s most recent client software had rendered the testnet of the blockchain catastrophically damaged. Dean hypothesised that the bug might have resulted from IOHK moving quickly to implement Vasil. He revealed his discoveries in a post that concluded. If there were a “nuclear clock” for Cardano, we got perilously close to hitting “midnight”.

According to CoinGecko data, Cardano is one of the largest blockchain networks in the world, with a market worth of over $15 billion. However, Defi Llama data shows that the network only has $79.1 million in total value locked. Compared to Ethereum ($30.87 billion), BNB Chain ($5.24 billion), Avalanche ($1.62 billion), and Solana ($1.28 billion), this is much less. 

Although Cardano supporters will undoubtedly welcome the debut of Vasil, the network’s ADA coin has had not responded in the time leading up to the occasion. It is currently trading at $0.44, down 0.4% over the last 24 hours, according to CoinGecko data. ADA is about 85.6% below the peak it reached in September 2021.