Cardano Rallies 3.80% on Vasil Upgrade
The Cardano blockchain’s Vasil hard fork update is now scheduled to happen on its main network (mainnet) on September 22, the blockchain’s development lab, Input Output (IOG), revealed in a Friday Twitter thread.
Vasil is a significant update intended to boost Cardano’s scalability and lower transaction fees; its introduction on a test network was initially expected for June. A hard fork is an update to the software employed to verify and create fresh blocks that is incompatible with previous versions.
Nevertheless, the deployment had repeated delays. Friday, IOG tweeted that the update has passed its criterion of “the satisfactory implementation and comprehensive testing of all necessary elements, as well as community preparedness confirmation.”
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
— Input Output (@InputOutputHK) September 2, 2022
IOG said that the upgrade preparedness of the blockchain could be monitored on its website.
While preparing this report, the price of Cardano’s native token, ADA, was trading at $0.4733, reflecting a gain of 3.90% in the last 24 hours. In the past one week, the crypto token had gained 9%.