According to reports, the IOG and Cardano Foundation team used the hard fork to release the Vasil at the protocol level at epoch 365.
After three months of delay, the Vasil hard fork upgrade which is part of Cardano’s Basho era has been triggered. It is a very important phase of the Cardano roadmap which focuses on optimization, scalability, and interoperability. Binance has already produced the first block of the new era, meaning it will have higher throughput, increased network capacity, and a lower transaction cost.
Speaking on the upgrade, founder Charles Hoskinson stated that they understood that they would get to what Ethereum has achieved. There was no rush as they understood a roadmap to get there.
“The Vasil hard fork moves us towards this goal by improving Cardano’s foundational features, upgrading the technology’s capacity to transform our traditional financial and social systems, and ultimately advancing decentralized economic empowerment,” said Frederik Gregaard, CEO of the Cardano Foundation.
ADA holders using Cardano to facilitate transactions and dApps are required to do nothing as the transition happens behind the scenes. The upgrade was initially scheduled to take place in June but was delayed. This month, Cardano’s focused research and development company Input Output Global (IOG) confirmed the date for this upgrade. This was after the critical mass indicators had been reached. In addition, “staking pool operators, exchanges, and dApp communities” declared their readiness for the Vasil upgrade.
While the recently triggered Ethereum Merge is said to be the biggest upgrade in blockchain history, IOG believes that Vasil is the most significant upgrade for the blockchain to date.
According to reports, the IOG and Cardano Foundation team used the hard fork to release the Vasil at the protocol level at epoch 365. This enabled a frictionless technical transition without disruption to users.
“Where previous development eras focused on decentralization and new functionality, Basho is focused on improving the underlying performance of the Cardano network to further support growth and adoption for applications with high transaction volumes,” said Gregaard.
Gregaard added that the Cardano smart contracts capabilities would be enhanced through the Plutus v2. It is expected that the script execution costs and transaction size would be reduced in addition to improving throughput. The Vasil capabilities would be available to be “utilized on the mainnet after exactly one epoch, on Sept. 27.”
Excellent John K. Kumi is a cryptocurrency and fintech enthusiast, operations manager of a fintech platform, writer, researcher, and a huge fan of creative writing. With an Economics background, he finds much interest in the invisible factors that causes price change in anything measured with valuation. He has been in the crypto/blockchain space in the last five (5) years. He mostly watches football highlights and movies in his free time.