The much-awaited upgrade is expected to finally launch on the mainnet later this month
Cardano’s Vasil Hard Fork Has Been Launched on Blockchain’s Testnet a declaration Posted by lead developer Input Output on Sunday.
The company says the event marked an “important next step” towards the implementation of the much-anticipated upgrade.
Over the next four weeks, stake pool operators, developers and cryptocurrency exchanges will test Vasil. After that, the hard fork will be triggered on the mainnet of the blockchain.
as Reported by U.Today, Input Output announced that the launch of the hard fork had been postponed. Nigel Hemsley, head of delivery and products at Input Output, stressed that there was no rush to launch the upgrade because the team of developers prioritized its quality and safety. Hemsley pointed out that Vasil is the most sophisticated development program ever for the Cardano team.The high-stakes upgrade is expected to drastically increase the performance capabilities of the blockchain by ensuring high throughput and enabling interoperability.
The Hard Fork Combinator event is now expected to take place at the end of July after being postponed.
Cardano’s Alonzo hard fork, which enabled smart contracts, was launched in September 2021. This event pushed the price of the ADA cryptocurrency to its current high of $3.09.
Cardano’s native coin has since dropped more than 85% of its value, currently trading at $0.44 on major spot exchanges.
ADA continues to trade in the red after the most recent announcement, having lost over 10% over the past week.