While The Merge is expected to take place in a little over 10 days, the scheduled date for the Cardano hard fork, called Vasil, has been set. The long-awaited Cardano fork is scheduled to take place on September 22, or roughly nine days after Ethereum’s transition from proof-of-work (PoW) to proof-of-stake (PoS).
Cardano Devs to Launch Vasil on Mainnet in 19 Days
(Cardano Devs to Launch Vasil on Mainnet in 19 Days
The Cardano development team has revealed that it will be hard forking on the upcomingCardano (ADA) called Vasilfollowing what Input-Output Global (IOG) founder Charles Hoskinson described as a hard fork happening in September during a live stream on Twitter last week.
On Twitter, IOG’s official social media accounttold the publicthat “the date for the Vasil upgrade has been (confirmed).” The developer noted that the codebase merge would be followed by “successful completion (and) extensive testing of all core components.”
The IOG further explained that the fork would be coded into the mainnet codebase on September 22; the IOG went on to add, “The fork will be merged into the mainnet codebase on September 22.
Vasil is the most significant Cardano upgrade to date, bringing increased network capacity and lower transaction costs. The upgrade also brings enhancements to Plutus to allow developers to create more powerful and efficient blockchain-based applications.
Cardano founder Charles Hoskinson says Vasil is “the most difficult update we’ve ever done as an ecosystem”
IOG founder Charles Hoskinson also discussed the date of the Vasil hard fork in alive streamon Twitter called “Vasil is Coming September 22nd, 2022.” The name of the hard fork, Vasil, comes from the recently deceased Bulgarian Cardano community member and mathematician Vasil Dabov.
During the livestream, Hoskinson noted that it is surprising that the randomly chosen fork date falls on Bulgaria’s Independence Day. four Cardano Improvement Proposals (CIPs) have been added to Cardano’s (ADA) code base
implementation.
During implementation, Vasil has been working on CIP-31 (Reference Inputs), CIP-32 (Inline Datums), CIP-33 (Reference Scripts), and CIP-40 (Collateral Outputs) to be docked; CIP-31 Reference Scripts, which IOG developers saidlast May, would reducethe ADA’stransaction costs; CIP-40 Reference Scripts, which IOG developers saidwould reduce the ADA’s
transaction costs; and CIP-40 Reference Scripts, which IOG developers said
would reduce the ADA’s
transaction costs.
At the time of writing after the announcement, theCardano (ADA)gained 2.3% against the USD in 24 hours. ADAhas gained nearly 10% in the past 7 days and is now. ADAis the 8th largest crypto market cap with a market cap of $16 billion.
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