Fork, yeah! – Cardano Vasil upgrade successfully started
After several months of delay, the long-awaited Vasil upgrade finally went live at the end of last week. The associated hard fork is said to bring “significant improvements in performance and efficiency”.
The successful upgrade of the Cardano mainnet was announced on Twitter a few days ago by Input Output Hong Kong (IOHK), the lead developer of the blockchain project. Cardano co-founder Charles Hoskinson accompanied the implementation of the hard fork also live on Twitter Spaces.
#Vasil mainnet HFC event successful!
We’re happy to announce that today, at 21:44:00 UTC, the IOG team, in collaboration with the @CardanoStiftungsuccessfully hard forked the Cardano mainnet via a HFC event, thus deploying new #Vasil features to the chain.
— Input Output (@InputOutputHK) September 22, 2022
As IOHK previously stated, one of the most important features of the upgrade is that block transmission can take place without full validation. This will allow blocks to be created faster overall in the future. Changes to Plutus, Cardano’s smart contract platform, should also ensure greater efficiency and lower costs, and enable Decentralized Apps (DApps) to run on the network.
Better buy some mouthwash. Vasil is live. Anyone have recommendations for Greg 🙂 https://t.co/RTehxad97Z
— Charles Hoskinson (@IOHK_Charles) September 22, 2022
The new features being introduced for Plutus are scheduled to be available to developers starting tomorrow, September 27th.
Bill Barhydt, the founder of crypto trading platform Abra, sees the upgrade as a “huge win for developers.” The DeFi project Genius Yield praises even that it is “the most complex and influential update that Cardano has ever introduced”.
Congrats to Cardano ($ADA) team on Vasil hardfork. More hard work in crypto paying off.
Making UTXO’s and inputs accessible to scripts/Plutus without spending them is a big win for developers. Well done!
— Bill Barhydt (@billbarhydt) September 22, 2022
The date for the upgrade was not specifically set by IOHK until the beginning of September, after several important indicators had been met in advance, which had given the green light for the implementation of the hard fork.
Previously, there had been postponements and date changes over several months, because implementation was actually planned for June. Due to problems in the testnet, there were two shifts, because, among other things, errors were found in a previous node version.
After the successful Vasil upgrade, Cardano is now primarily working on its own Layer 2 solution called Hydra, which moves transactions outside of the Cardano blockchain to ensure faster and more efficient processing.
In the last Hydra status update on September 16th, the development team confirmed that they are currently working on a known issue with the Hydra nodes. A specific date for the introduction of the protocol has not yet been set, but this is targeted for late 2022 or early 2023.
In the first hours after the successful Vasil upgrade, Cardano price (ADA) surged nearly 4% to end at $0.46. Nevertheless, the previous week was down 4.5% overall.