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Cardano Vasil update successfully launches on testnet in July fork

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Nonhlanhla P Dube

With the Cardano testnet hard fork completed, the mainnet will be forked in around four weeks, or when developers have had enough time to prepare their tools for the update.
The long-awaited Vasil hard fork has been completed on the Cardano testnet, bringing it one step closer to becoming a reality on the mainnet and promising significant performance improvements.

Project developers, stake pool operators (SPO), and exchanges are now urged to put their work on the testnet to ensure smooth interoperability when the mainnet receives the Vasil treatment in around four weeks. Once completed on the mainnet, the Vasil hard fork will enable faster block production and increased scalability for Cardano-based decentralized programs (DApps). Input Output HK (IOHK), the corporation that created Cardano, stated in a Sunday tweet that developers would benefit from “much-enhanced script performance and efficiency” as well as decreased expenses.

Vasil will also enable interoperability amongst Cardano sidechains, which is one of the primary features that developers plan to implement during the current Basho phase of the blockchain’s development. Cardano’s fourth development phase, Basho, focuses on scaling and will be followed by the Voltaire phase, which focuses on governance.

IOHK also stated that a proposal to hard fork the mainnet will not be made until “ecosystem partners are comfortable and ready,” but it is expected to be made within four weeks.

According to ecosystem tracker Cardano Cube, the previous phase, Goguen, saw the development of smart contract capabilities on Cardano, which decentralized finance (DeFi) developers took advantage of by establishing dozens of decentralized exchanges (DEX) and DeFi protocols.

According to the DeFi data compiler DefiLlama, Cardano’s top DApp now has R809 million in total value locked (TVL).

According to CoinGecko, the testnet hard fork has done little to move Cardano (ADA), which is only up 0.1 % in the previous 24 hours to R7,32.

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Nonhlanhla P Dube

Nonhlanhla P Dube is a senior news reporter at Rateweb. Nonhlanhla is a student of International Relations at the University of South Africa. She reports primarily on personal finance and economics. You can contact her directly by email at nonhlanhla@rateweb.co.za

Published by
Nonhlanhla P Dube
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