Cardano’s Vasil Hard Fork Goes Live – The Significance Of The Upgrade Explained

After suffering multiple delays in June and July, Cardano’s long-awaited network upgrade, the Vasil hard fork, has successfully been implemented, bringing “significant performance and capability” enhancements to the network.

The Vasil Hard Fork Is Live

Input Output Hong Kong (IOHK), the development team behind Cardano, announced via Twitter that the Vasil hard fork upgrade was carried out on the blockchain at 21:44 UTC on Thursday, September 22nd. IOHK tweeted:

The successful launch of Vasil signals the start of a five-day hard fork process, which is expected to be finalized on September 27th. The hard fork will introduce new features, while protecting the blockchain from data loss.

The Significance of the Vasil Hard Fork

The upgrade has been touted as the most significant period since Cardano’s launch. For one, Vasil will serve to enhance Cardano’s smart contract capabilities through Plutus V2, which was initially released in September 2021.

Cardano has long been criticized for failing to compete with other smart contract platforms, but Vasil is expected to fix that. The upgrade’s implementation could potentially lead to the development of more decentralized applications on Cardano.

The hard fork also aims to improve Cardano’s throughput capability via diffusion pipelining, thereby increasing the overall scalability of the network, while also lowering the cost of transactions.

Rate this post
See also  Sam Bankman-Fried Denies Reports Of FTX Plan To Buy Huobi Global
Investing Press
Investing Press

we are passionate about science, new technologies, and web development and how to make money on the internet, we share with you tips, tutorials, guides, concerning the creation of blogs and everything related to Web 3.0 and of course the world of Cryptocurrency

Articles: 1199

Leave a Reply

Your email address will not be published.