Cardano’s Vasil Update Has Completed its First Phase
Cardano's long-awaited blockchain upgrade - the Vasil hard fork - successfully completed its first phase early Friday morning.
This was confirmed by Cardano’s developer Input Output Global Hong Kong’s (IOHK) official Twitter page.
#Vasil mainnet HFC event successful!🍾
We’re happy to announce that today, at 21:44:00 UTC, the IOG team, in collaboration with the @CardanoStiftung, successfully hard forked the Cardano mainnet via a HFC event, thus deploying new #Vasil features to the chain.
🧶1/5— Input Output (@InputOutputHK) September 22, 2022
What does the Cardano update change?
Vasil will bring improvements to the blockchain protocol, making it more scalable and boosting its efficiency and profitability, Input Output Global said in a Twitter thread.
Hard forks are final updates to a blockchain protocol that require all nodes (nodes) or users to upgrade to the latest software version of the protocol. The Vasil hard fork will implement new features into the network without losing existing data in the old blockchain.
Earlier in the year, Cardano delayed the upgrade several times, citing bugs and “an abundance of caution”.
The latest phase of the Vasil update, a new version of Cardano’s Plutus smart contract platform, is expected to go into a “pre-production environment” on Saturday and then become fully active on the circuit on September 27.
Plutus V2’s new features and enhancements will help dApp developers create more powerful and efficient blockchain-based applications within the network, according to Input Output.
At the time of publication, Cardano’s ADA was up about 6% over the past 24 hours, erasing last week’s losses.
Andrey Kunev
Reporter at CoinsPress
Andrey Kunev is a knowledgeable cryptocurrency content creator passionate about the crypto market. With extensive experience in market analysis and investment reporting, Andrey is a valuable asset to the CoinsPress team. As a frequent contributor, he offers insightful and comprehensive coverage of market trends, price fluctuations, and new advancements in cryptocurrency. Whether you're a seasoned investor or just getting started, Andrey's clear and concise writing offers a comprehensive look at the current state of the crypto market and its prospects. Stay up-to-date with CoinsPress's expert analysis and commentary on all things cryptocurrency.
