The first phase of the Cardano Vasil update is finished
The Vasil hard fork, a long-awaited upgrade to the Cardano blockchain, has finished its first stage early on Friday morning, according to the official Twitter feed of Cardano operator Input Output…
The Vasil hard fork, a long-awaited upgrade to the Cardano blockchain, has finished its first stage early on Friday morning, according to the official Twitter feed of Cardano operator Input Output Global Hong Kong.
According to Input Output Global in a Twitter thread, Vasil will make the Cardano network more efficient and cost-effective while also enhancing its scalability.
— Input Output (@InputOutputHK) September 22, 2022#Vasil mainnet HFC event successful!🍾
We’re happy to announce that today, at 21:44:00 UTC, the IOG team, in collaboration with the @CardanoStiftung, successfully hard forked the Cardano mainnet via a HFC event, thus deploying new #Vasil features to the chain.
🧶1/5
All nodes or users must update to the most recent version of the protocol software in order to participate in a hard fork, which is a permanent modification to a blockchain system. According to Input Output, the Vasil hard fork would introduce new Vasil features to the network without erasing any data already present on the previous blockchain.
Cardano had earlier in the year repeatedly postponed the upgrade, citing issues and a “abundance of caution.”
Cardano’s smart contract platform Plutus is set to reach a “pre-production environment” on Saturday and turn fully operational on the chain on September 27 as part of the Vasil update.
According to Input Output, new Plutus V2 features and improvements will aid dApp developers in building stronger and more effective blockchain-based applications for the network.
In Friday morning trading in Asia, the price of Cardano’s ADA coin increased by 5.2% over the previous day, wiping out all losses it had sustained over the previous seven days.
- About author
- Disclaimer
Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.
Delegate Your Voting Power to FEED DRep in Cardano Governance.
DRep ID: drep12ukt4ctzmtf6l5rj76cddgf3dvuy0lfz7uky08jfvgr9ugaapz4 | We are driven to register as a DRep by our deep dedication to the Cardano ecosystem and our aspiration to take an active role in its development, ensuring that its progress stays true to the principles of decentralization, security, and community empowerment.DELEGATE VOTING POWER!
