Today begins a 5-day period in which Vasil is performed on Cardano. This upgrade makes the blockchain scalable and implements some other improvements.
The first part of the upgrade will take place today, and the second part in 5 days, on September 27. It is not known what time Vasil starts today.
Cardano is ready
Charles Hoskinson is the founder of the Cardano Foundation and Input Output Hong Kong. The latter is Cardano’s development team. Hoskinson is confident in a happy ending.
During a live stream this week, he said:
“We don’t expect there will be any problems, but there is no turning back now. No amount of testing or anything can save us because the missile is in the air. It explodes in the sky or reaches a star, and it is clear that Cardano will reach a star.’
Faster and more advanced
Vasil is improving several aspects of Cardano’s blockchain. According to a blog post by Input Output Hong Kong (IOHK), Vasil is making applications built on Cardano “faster and more sophisticated,” making the blockchain easier to build and improving the user experience.
The upgrade will also improve the network’s scaling capabilities and reduce transaction costs.
Cardano uses hard fork for Vasil
IOHK says Vasil is Cardano’s most significant update to date. Vasil is implemented through a hard fork on Cardano. This means that the blockchain will split into two: One with Vasil and one without Vasil. The one with Vasil is, of course, the valid blockchain, and the other fork is nothing but a silent death.
Vasil is unlike any previous upgrade. For example, Shelley was carried out in the summer of 2020, which ensured that users could strike. In 2021 Mary came and introduced NFTs and Alonzo came out that same year. Alonzo implemented the Plutus programming language to build smart contracts.
Vasil doesn’t focus on a single aspect, but improves on the basics and releases Plutus 2.
Initially, the hard fork was planned for June 29, but due to some problems in the test environment, this has been postponed to today.
Cardano is tested and ready
Input Output announced on September 20 that more than 98% of Cardano’s blockchain is ready for Vasil. The developers also said that decentralized applications (DApps) on Cardano have been tested and declared ready.
On-chain stats show that the ecosystem is ready to trigger the hard fork. The chart below is from the Santiment website and shows that development activity increased between September 19 and 20.
Price ADA falls
The market doesn’t seem too concerned about the hard fork on Cardano. The price of ADA has fallen by 2% in the past 24 hours. It is also not a buy the hype, sell the news situation. In the run-up to today, the price has not shown anything significant. And even now there is no big hype, or dump.
How different it was last year. In the run-up to Mary and Alonzo respectively, you saw the price rise sharply, but once that happened, the value sometimes fell by 10%.