Cardano Founder Reveals Launch Date For Vasil Upgrade

The Vasil hard fork is on its way. The CEO and founder of IOG, the firm behind Cardano, Charles Hoskinson, revealed on Friday when the long-delayed Vasil hard fork is expected to begin.

The Ethereum Merge is approaching, but so is Cardano’s Vasil hard fork. If all goes as planned and all bugs are worked out, the hard fork should be available in the following weeks.

Cardano founder Charles Hoskinson offered a quick update on the Vasil hard fork, named after a Cardano evangelist and mathematician who just died, Vasil Dabov, in a livestream on Friday.

Hoskinson, who also co-founded Ethereum, stated that the hard fork will take place “sometime in September.” Not by chance, the long-awaited Ethereum merger is set to take place on or around September 15.

The exact date of the Cardano fork, however, partly depends on crypto exchanges, Hoskinson said:

“The next major lift is to get the exchanges on board. Binance is reporting that they’re currently upgrading by volume. Generally, what happens is after a hard fork date is announced, you see a big rush, and people push through.”

Stake Pool Operators (SPOs) running the most recent 1.35.3 now produce 55% of mainnet blocks in the current epoch. This is more than halfway to the 75% requirement for Vasil to be activated on the Cardano mainnet.

From a fundamental perspective, the hard fork could bolster ADA adoption owing to improved network efficiency. This could, in turn, give the token strength to advance higher. Fans of the coin are eager to see it hit $1. At the time of writing, ADA is trading at $0.45.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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