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08/09/2022

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IOHK responded on Cardano’ Vasil Hardfork delay rumor

Cardano's IOHK on Rumors of Vasil Hard Fork Delay: "We Are Very Close". Read this full report

IOHK responded on Cardano’ Vasil Hardfork delay rumor

Last updated Jun 20, 2022

The developer team behind the Cardano Blockchain responded to the rumors on Vasil Hardfork because of the bearish sentiment of the crypto market.

IOHK is a developer team behind the Cardano Blockchain. In 2015, Charles co-founded IOHK with Jeremy Wood. Currently, IOHK stands as a dominant developer team in the crypto industry, which has talented researchers and engineers, after Ethereum developers. Initially, IOHK launched Cardano blockchain as a rival of the Ethereum blockchain but with some different concept. 

Cardano blockchain was scheduled to go through an important upgrade, Vasil Hardfork. Hardfork in the Cardano Blockchain will take place on the expected 29th of this month. Upgrade will bring huge numbers of features, to integrate huge numbers of development works in the Cardano Blockchain. 

In the last 7 days, crypto market saw a huge downfall in the price of crypto assets because of bearish sentiment, where Bitcoin lost its strong buy wall of $20k and plunged to a $17,600 price value on some dominant crypto exchanges. 

Due to this bearish sentiment of the crypto market, many people claimed that the Cardano project team will reschedule the date of Vasil Hardfork because they want to see some better traction in the crypto industry ahead of Vasil Hardfork. 

On 18 June, Tim Harrison, vice president of community and ecosystem at IOHK responded to rumors and confirmed that no delay will take place for the same.

As per mid month, we’re very close now but ultimately need to assess readiness of Dapps, exchanges, SPOs etc. We’ll have an update for everyone Monday

— Tim Harrison (@timbharrison) June 18, 2022

According to the tweet of Harrison, IOHK will give an update for the same today for all the platforms running in the Cardano blockchain ecosystem. 

If we will look toward the other side, instead to look at the bearish sentiment of the crypto industry, then we will find that there may be some technical issues that may be responsible for the delay. However, the developer team behind Cardano already confirmed that everything is planned but still here it will be a matter of time.

Read also: Elon Musk pumped Dogecoin by 14%

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