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07/04/2022

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Cardano successfully launches Vasil hard fork on testnet

The post Cardano successfully launches Vasil hard fork on testnet appeared on BitcoinEthereumNews.com. Cardano has successfully completed the Vasil hard fork on the Cardano testnet. The Vasil hard fork is expected to boost the scalability of the Cardano network,...

Cardano successfully launches Vasil hard fork on testnet

Cardano has successfully completed the Vasil hard fork on the Cardano testnet. The Vasil hard fork is expected to boost the scalability of the Cardano network, and with the testnet being complete, the fork is now set to roll out on the mainnet.

Cardano hard fork launches on testnet

Developers on the network, stake pool operators (SPO), and exchanges have been urged to launch their work on the testnet. This will ensure that integrations can be successfully deployed after the mainnet receives Vasil in around a month.

“The community has requested a 4-week period following the testnet hard fork to allow for SPOs, developers, and exchanges to test and upgrade before we trigger the hard fork for the Cardano mainnet,” the Input-Output HK (IOHK) said.

After the Vasil hard fork is deployed on the Cardano mainnet, it will increase the speeds in block creation and offer better scalability for decentralized applications (DApps) on the Cardano network. The IOHK also said that this hard fork would equip developers with “much-improved script performance and efficiency. Costs will also be lowered significantly.

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The Vasil upgrade will also promote interoperability with the ADA sidechains. These are among the top features that developers plan to launch in the Basho phase of Cardano’s development. Basho is a phase that promotes network scalability, and it will be followed by the Voltaire phase, where governance will take a central position.

Vasil hard fork expected in four weeks

The IOHK further said that a proposal for the hard fork would only happen when the “ecosystem partners are comfortable and ready.” However, this hard fork is expected to happen in four weeks.

ADA launched the Alonzo hard fork upgrade in September last year. This hard fork brought smart contracts to the Cardano network and it launched several decentralized exchanges (DEXs) and decentralized finance (DeFi) protocols on the Cardano network.

The top DApp on the Cardano network is the WingRiders DEX. Data from DeFiLlama shows that the DEX has $49.7 million in total value locked (TVL). The launch of the hard fork on the Cardano testnet has not aided in ADA’s recovery, with the token being down by 0.4% over the past 24 hours to trade at $0.44, according to CoinGecko.

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Source: https://insidebitcoins.com/news/cardano-successfully-launches-vasil-hard-fork-on-testnet

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