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Input Output Hong Kong (IOHK), the research and development company that has developed the Cardano blockchain revealed on Sunday that,
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“We’re happy to report that today at 20:20 UTC, the IOG team has successfully hard forked the Cardano Testnet. This is an important next step in the journey towards the Vasil upgrade on mainnet.”
The team also requested that stake pool operators (SPOs) and blockchain developers begin the final testing and integration processes. “Vasil is a complex program of work. Projects will need to check backward compatibility, and SPOs will need to make some scripting adjustments,” IOHK said.
Cardalonia, a metaverse on the Cardano blockchain, also claimed that the testnet launch had been a success, adding that the hard fork is now “inevitable.”
Go Go!https://t.co/39CbhTi9Ks
— Cardalonia (@cardalonia) July 4, 2022
The Vasil hard fork is expected to be implemented on the mainnet four weeks after the testnet, which means the upgrade might go live in early August.
The upgrade, which comes after the smart-contract-enabling Alonzo hard fork, is expected to bring significant performance and capability upgrades to Cardano.
The upgrade will enhance script performance and efficiency and reduce costs.
The Vasil upgrade will also include Cardano cryptographic primitives improvements (enabling greater interoperability options for other blockchains), a tuned Plutus interpreter, and a new cost model, which are all part of Plutus V2 scripts.
8/10
— Input Output (@InputOutputHK) July 3, 2022
The update was supposed to go live on June 29th. However, IOHK confirmed in a blog post that there would be a slight delay.
Meanwhile, as of noon Monday (UTC), the seventh-largest coin by market capitalisation, ADA, is up 3% in the last 24 hours, trading at USD 0.465. According to CoinGecko, it is down 5% in a week and 17% in a month.