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Blaze Trends

08/29/2022

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Cardano founder reveals new date for the Vasil Hard Fork

Cardano co-founder Charles Hoskinson has announced a new date for the Vasil Hard Fork upgrade. Upgrade planned for September In a video Charles Hoskinson has... The post Cardano founder reveals new date for the Vasil Hard Fork appeared first...

Cardano founder reveals new date for the Vasil Hard Fork

Cardano co-founder Charles Hoskinson has announced a new date for the Vasil Hard Fork upgrade.

Upgrade planned for September

In a video Charles Hoskinson has announced a new timeline for the upcoming Vasil Hard Fork. In it, he says, among other things, that the update can be released as early as September 2022 if the team does not encounter additional problems or obstacles.

“So sometime in September the hard fork will happen, that’s what it looks like now unless something is discovered or we run into a significant delay somewhere.

– Said Hoskinson.

The IOHK team had previously released a progress report on the Vasil hard fork via Twitter. It stated how the network is currently in the process of bringing in the exchanges. According to IOHK, nearly 40% of SPOs (stake pool operators) have already been updated. It was also shared via twitter how crypto exchange Binance has already started upgrading its nodes to implement the upcoming fork.

An official date

In the video, Hoskinson mentioned that Binance has already upgraded 30-40% of the total Cardano volume. They are closely followed by other central exchanges such as Kraken and Coinbase.

“So the next big step is to get the exchanges on board. Binance reports that they are currently upgrading. In terms of volume, I think they hold about 30-40% of Cardano’s trading volume. Kraken and Coinbase tend to go along with this.

So Hoskinson shared.

Later in the video, Hoskinson also stated that once 75% of SPOs are upgraded to the latest 1.35.3 version, the team can announce a date for the hard fork launch.

“What usually happens is that after a hard fork date has been announced, you see a big stream of people pushing through. So what’s probably going to happen is that once we get to that golden 75% of the SPOs and three to five of the major exchanges, the three or five exchanges will be upgraded, and then a date for the hard fork will be set. Then the other exchanges feel the urgency and start upgrading as well. Otherwise it will be very difficult to get them on board, they often need a helping hand.” According to Hoskinson.

The Vasil Hard Fork is seen as one of the key crypto events that will introduce improvements to the existing Cardano ecosystem. The fork will essentially improve the operation of the overall network, in addition to developing smart contracts and DApps.

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