Is Cardano’s Vasil Upgrade Going to Help The Network to Grow?
The development team of the Cardano Network and its native ADA coin has announced that they will be delaying the Vasil Hard Fork upgrade for another week in order to work out some bugs. This is a common occurrence during the development process of a new crypto currency, and it is understandable that the developers are extra cautious about the quality of their product and the security of its users. But the wait won’t be long. Here’s why.
According to IOHK (Input Output Hong Kong), the development team is generally satisfied with the quality of the new node release. There are few critical issues in the code, and the team is working on fixing these issues. Moreover, the development team has made available a dedicated developer testnet to enable ecosystem partners to fine-tune their processes before the release. It’s expected that the development team will meet on Friday to discuss how to proceed with the Vasil upgrade and whether there are any further changes needed.
The new version of the Cardano blockchain network is dubbed the “Vasil” hard fork, named after mathematician Vasil Dabov. Its main objective is to improve scaling by introducing block diffusion and pipelining, two critical factors for the development of a cryptocurrency. It falls into the “Basho” era” of Cardano’s development, whereas the current version of the network is still in the “Sato” phase.
The team behind the Cardano blockchain is working on the Vasil hard fork, promising improved scalability and speed. The developers tweeted that all was well ahead of the June 29 hard fork. On Wednesday, the cryptocurrency closed at $0.60 and continued its upward trend, touching its 50-day moving average line. Analysts expect further increases as the Cardano Vasil upgrade approaches. You can read the full press release on the official website of Input Output Hong Kong.
The new version of the Cardano network is expected to increase the speed of the main chain by up to 20 percent. Diffuse pipelining will increase the size of blocks and improve the efficiency of block propagation. The new version of the protocol will also implement Cardano Improvement Proposals and CIP-31, introduce a new reference input, and reorganize datums. The script size will also be reduced.
The hard fork will occur on June 29. Cardano Foundation has chosen to do extra examinations after the Terra-LUNA collision. The Cardano testnet will be forked four weeks after the hard fork. During this period, Cardano will focus on assimilation, and it’s expected to finish in late July. In the meantime, Cardano tokens are up 5.6% in the last 24 hours.