Cardano’s Upcoming Vasil Hard Fork Is On Track, Says Founder

Cardano founder Charles Hoskinson recently shared the testnet release schedule for the upcoming Vasil Hard for on the Cardano Network.

Vasil Hard Fork on a Swift Track

Founder of Cardano and Chief Executive Officer at IOHK, Charles Hoskinson publicly shared the release schedule for the testnet related to the upcoming Vasil Hard Fork on the network through a tweet on social media platform, Twitter. Charles updated the userbase about the Vasil Hard fork, stating that it is currently on schedule without any significant hiccups in the way, with the testnet set to launch sometime in the month of May and the official release aimed in June this year.

Charles also shared a link in his tweet, leading to a YouTube video from IOHK’s official channel which included segments aimed towards updating users about the development status of the Cardano network for this month. According to the update, significant growth was made regarding pipelining tests and logs enhancements.

The update is also targeted towards integrating four CIPs that include, CIP-31 relating to Reference Inputs, CIP-32 for Inline Datums, CIP-33 connected to Reference Scripts and lastly, CIP-40 deemed towards Collateral Outputs. The development team has also started to work on the UTXO HD functionality that is aimed towards testing and problem-solving workflows. Cardano also mentioned the addition of eight separate IOG notes and 51 SPOs into the testnet to monitor the performance metrics.

High Hopes for Hoskinson and Cardano

Hoskinson had a positive stance about the progress of the Vasil Hard Fork, as he stated that this hard fork, hopefully released on schedule, will help Cardano to gain a significant boost in overall performance and will also assist to enhance the smart contract functionalities. IOHK also displayed statistical data dealing with the network’s growth. As of now, Cardano is host to the development of more than 900 different projects on the network, while more than 5500 NFT projects are also being powered.

IOHK also mentioned that the number of native tokens of Cardano have also managed to reach more than 4.7 million. At the time of writing, with respect to data taken from CoinMarketCap, the price valuation of Cardano currently sits at about $0.5337, falling a massive 29.7% in the past seven days, due to the ongoing market drop across the board.