After several months of delay, the hard fork upgrade of the public chain project Cardano (ADA) “Vasil” was finally officially launched today (23rd). The team says the upgrade will “dramatically improve Cardano’s performance and functionality.”
Cardano blockchain developer Input Output Hong Kong (IOHK) announced on Twitter earlier that it has successfully completed the long-awaited Vasil hard fork.
Cardano’s native token, ADA, gained 4.7% in the past 24 hours to $0.467075, according to CoinGecko.
The Vasil hard fork was originally scheduled to be implemented on June 29, but the process was delayed several times due to many large and small bugs. The first time was because “there are 7 minor bugs to be fixed”. It was delayed until the last week of July, and then several weeks later to ensure “all parties are ready”. In August, it was delayed again due to a bug in the client software that prevented it from synchronizing with the testnet.
According to the team, the Vasil upgrade will improve the efficiency of the smart contract platform Plutus, increase the speed of Cardano, and reduce the cost of deploying and running decentralized applications (dApps). On the other hand, the new features introduced by the Plutus scripting upgrade will be available to developers on mainnet on September 27.
Bill Barhydt, founder of cryptocurrency trading platform Abra, called Cardano’s upgrade “a big win for developers,” while DeFi platform Genius Yield called it the most complex and important upgrade the Cardano network has ever seen.
Next, Cardano will continue to develop its Layer 2 scaling solution, the Hydra protocol, which is scheduled to be released by the end of this year or the first quarter of next year.