Cardano Vasil upgrade is now live on testnet

Vasil, the much-awaited hard fork, has now been finished on the Cardano testnet, taking it one significant step closer to being implemented on the mainnet and promising significant speed improvements.

What’s in it for developers?

Stake pool operators (SPO), exchanges, and project developers are now invited to release their work on the testnet to verify that integrations function properly when the mainnet receives the Vasil upgrade in around four weeks.

Vasil’s hard fork will enable quicker block generation and increased scalability for Cardano’s decentralized applications (DApps) once it is finished on the mainnet. The company that created Cardano, Input-Output HK (IOHK), stated in a tweet on Sunday that in addition to performance improvements, developers will see “much-increased script performance and efficiency” and decreased costs.

One of the primary features that developers plan to introduce in the current Basho phase of the blockchain’s development is interoperability with Cardano sidechains, and Vasil will make this functionality possible. Cardano’s fourth development stage, Basho, focuses on growth. It will be followed by Voltaire, in which governance will be the primary concern.

Cardano’s smart contract capabilities were introduced in the previous phase, Goguen, according to ecosystem tracker Cardano Cube. Decentralized finance (DeFi) developers seized this opportunity to create several decentralized exchanges (DEX) and DeFi protocols.

The DEX WingRiders are presently Cardano’s top DApp with $49.7 million in total value locked (TVL), according to the DeFi data aggregator DefiLlama.

A proposal to hard fork the mainnet won’t be made until “ecosystem partners are comfortable and ready,” according to IOHK, although this is anticipated to happen in roughly four weeks.

Cardano (ADA) has barely changed as a result of the testnet hard fork; according to reports, it is only up 0.1 percent over the previous day to $0.45.

Source: https://www.thecoinrepublic.com/2022/07/04/cardano-vasil-upgrade-is-now-live-on-testnet/