The much-awaited Vasil hard fork has been completed on the Cardano testnet, a big step closer to making it a reality on the mainnet and promising massive performance upgrades.
Project developers, stake pool operators (SPOs), and exchanges are now encouraged to deploy their work on the testnet to ensure that integration runs smoothly when the mainnet receives its Vasil treatment in about four weeks .
We are happy to report that today at 20:20 UTC the IOG team has successfully hard forked #cardano testnet. This is an important next step towards the Vasil upgrade on the mainnet.3 July 2022
Once completed on the mainnet, the Vasil hard fork will allow for faster block creation and greater scalability for decentralized apps (dApps) running on Cardano. Input Output HK (IOHK), the organization that produces Cardano, said on 3 July Tweet That in addition to performance upgrades, developers would benefit from “much better script performance and efficiency” and lower costs.
Vasil will also enable interoperability between Cardano (ADA) sidechains, one of the main features the developers intend to launch at the current Basho stage of blockchain development. Basho is the fourth development phase for Cardano that focuses on scaling and will be followed by the Voltaire phase, with governance being the main focus.
Vasil upgrade is now live on testnet, coming to mainnet in few weeks. Expect Cardano DeFi to go into rapids from here— Ada the Whale (@cardano_whale) 3 July 2022
IOHK also noted that there will be no proposal to hard fork the mainnet until “the ecosystem participants are comfortable and ready,” but this is expected to happen in about four weeks.
The previous phase, Goguen saw the launch of smart contract capabilities on Cardano, which decentralized finance (DeFi) developers took advantage of by launching dozens of dapp exchanges and DeFi protocols, according to ecosystem tracker CardanoCube.
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Cardano’s top dapp is currently the decentralized exchange (DEX) Wingriders with $49.7 million in total value locked (TVL), according to DeFi data compiler DeFi Lama.
According to CoinGecko, the testnet hard fork has done little to move ADA as it has only increased by 0.1% to $0.45 in the past 24 hours.