The development team behind Cardano (ADA) is confirming the date of the smart contract platform’s much-anticipated Vasil hard fork upgrade.
Input Output Hong Kong (IOHK), the team behind the Ethereum (ETH) challenger, says the update will go live on September 22nd.
“VASIL UPGRADE: DATE CONFIRMED.
Following the successful completion and extensive testing of all core components, plus confirmed community readiness, we along with [The Cardano Foundation] can today announce 22nd September for the Vasil upgrade on the Cardano mainnet.”
IOHK says that the Vasil hard fork is the “most significant” Cardano upgrade yet as it will greatly increase the blockchain’s network capacity and lower transaction costs. The firm also notes that Vasil will enhance Plutus, Cardano’s smart contract mechanism.
According to IOHK, the firm scheduled the launch because all the parameters they set for releasing Vasil have been met.
“We’ve been tracking well against all three metrics we and [The Cardano Foundation] set for launch:
-75% mainnet blocks being created by the final Vasil node candidate (1.35.3)
-Approximately 25 exchanges upgraded (c. 80% of ADA liquidity)
-Top 10 DApps [decentralized applications] by TVL [total value locked] confirming readiness.”
IOHK says that ADA users can expect a smooth transition.
“Thanks to Cardano’s unique hard fork combinator, we anticipate a seamless technical transition, with no disruption for its users or a break in block production. Users need take no action.”
Cardano is changing hands for $0.459 at time of writing.
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Fortis Design/Mingirov Yuriy
The post Input Output Hong Kong Confirms Official Date of Cardano’s Vasil Hard Fork Upgrade appeared first on The Daily Hodl.
