Cardano’s Most Ambitious Upgrade Finally Has a Confirmed Launch Date

Input-Output Hong Kong (IOHK), the blockchain development company behind Cardano (ADA), has confirmed the release date of the Vasil hard fork. It will happen on September 22, contrary to what some developers have assumed.

In a series of Tweets, IOHK informed the status of Vasil’s update, adding that it would be the most important and complicated update to date as, in addition to bringing more capacity to the network, it will greatly reduce the cost of transactions.

Vasil will be supported by major cryptocurrency exchanges

According to IOHK, most major cryptocurrency exchanges have already started upgrading their nodes to support the latest hard fork. The company expects “a seamless technical transition, with no disruption for its users or disruption in block production.”

“Most of the major exchanges have now started the upgrade process. Based on the current trajectory and previous experience, @CardanoStiftung has full confidence in completing the updates and achieving the set 80% liquidity metric. “

Additionally, the update will allow developers to build blockchain-based applications in a “more powerful and efficient way” via Plutus, Cardano’s blockchain smart contract platform.

Vasil’s delay causes confusion in the network

Vasil’s launch was initially scheduled for late July; however, development of the fork turned out to be so complex that it had to be postponed for a couple of months, causing unrest among developers like Adam Dean, who pointed out that Testnet was “catastrophically” broken. This was denied on the air by Charles Hoskinson, creator of Cardano.

Other developers, such as Peter Szilágyi and Sebastien Guillemot, complained that the project had a “culture of silence” that did not allow them to talk about network errors and that even mentioning a bug caused a “multi-day panic”.

Hoskinson, widely known for fiercely defending his creation, said Guillemot was wrong and that tweets from both developers were trying to “raise dust for no apparent reason,” adding that all problems have been fixed.

Now, everything seems to point to a Cardano completely ready to be forked. Additionally, 70% of monitored dApps confirmed that pre-production tests were performed successfully and 80% of Stake Pool Operators (SPOs) were upgraded.

Cardano developers are more enthusiastic than ADA traders

As exciting as Vasil is, and as important as this revolutionary hard fork is to Cardano’s future, traders and speculators responded early with a “Meh”.

Price of Cardano (ADA).  Image: Tradingview
Price of Cardano (ADA). Image: Tradingview

It is true that ADA could stop its main bearish trend, but it is also important to consider that the coin has been trading sideways since May, bouncing roughly between $ 0.42 and $ 0.6 with a few exceptions. Right now, ADA is trading at $ 0.457 which is quite close to the support of the channel.

And with Vasil scheduled a week after the Ethereum Merge, perhaps there haven’t been too many eyes on the Cardano developers and ADA price charts.


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