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08/26/2022

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Will Cardano’s Vasil Hard Fork Happen Sooner Than Expected? What Next For ADA Price?

The post Will Cardano’s Vasil Hard Fork Happen Sooner Than Expected? What Next For ADA Price? appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide Vasil, the upcoming Cardano hard fork, may happen sooner than anticipated...

Will Cardano’s Vasil Hard Fork Happen Sooner Than Expected? What Next For ADA Price?

Vasil, the upcoming Cardano hard fork, may happen sooner than anticipated because IOHK and its creator Adam Dean are enthusiastic about it. As a result, the price of Cardano (ADA) soared by more than 3% in just two hours and more than 5% over the course of the last day.

Stake Pool Operators (SPOs) operating the 1.35.3 node currently make up 63% of blocks in the previous 12 hours, according to a recent tweet by Adam Dean. A target of 75% block output on the 1.35.3 node had also been confirmed by IOHK in order to deploy the Vasil hard fork on the Cardano mainnet.

Adam Dean, a Cardano engineer, expressed his optimism about the Vasil hard fork happening sooner in a tweet on August 26. The SPOs running the 1.35.3 node are responsible for 63% of the mainnet block generation, according to the 12-hour chart data on PoolTool.

What will happen next?

After the node’s block generation hits 75%, the Vasil hard fork will be implemented on the Cardano mainnet, according to a previous tweet from IOHK. The final node version for the Cardano upgrade will be node 1.35.3, according to developers.

📢 The team at IOG, along with @CardanoStiftung and the wider @Cardano technical community continue to work together to bring the #Vasil upgrade to the #Cardano mainnet. 🙌

Here’s a rollout status as of 25th August 🧵👇

1/13

— Input Output (@InputOutputHK) August 25, 2022

In total, 1.35.3 nodes are running the Cardano mainnet at a 57% rate. Major problems were discovered during the developers’ successful testing of the 1.35.3 node and component integration. However, the backlog currently contains a total of 9 minor defects.

The top 10 DApps must test against node 1.35.3 on the pre-production testnet in addition to at least 25 exchanges updating the node to provide 80% of liquidity before the Vasil hard fork. Several exchanges, including Binance, have recently announced updating the Cardano node. Additionally, 4 of the top 10 DApps have acknowledged testing with node 1.35.3.

The latest updates to the Cardano price analysis show a comparatively higher degree of bullish momentum. This is made possible by the fact that there is solid support at $0.459. At least for the time being, the majority of altcoins, Bitcoin, and Ethereum are all experiencing corrections. Cardano is simultaneously seeing some encouraging bullish momentum, which is encouraging news for buyers.

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Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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