Cardano (ADA) Blockchain developer Input Output Hong Kong (IOHK) has submitted an updated proposal to hard fork the Cardano testnet. From July 3 the four-week window for application developers and exchanges to test the upcoming Cardano upgrade begins before it’s launched onto the mainnet.
The Vasil upgrade is scheduled to bring “significant performance and capability upgrades” to the blockchain, with IOHK stating the fork as the “biggest and best upgrade to date” providing higher quantity, improved script performance for developers, and lower costs.
One of the most substantial updates pointed out by the team is the application of circulation pipelining aimed at improving the blockchains’ scalability for decentralized applications (DApps).
The update will allow faster block creation as they can be conveyed without full justification.
The upgrade to the testnet will take place probably on July 3, with the mainnet upgrade planned for roughly around the end of July. The Cardano community requested four weeks minimum to agree the time to test and upgrade applications on the testnet, and IOHK says the hard fork for the mainnet will take place “once everyone is comfortable and ready.”
The Cardano mainnet upgrade was formerly supposed to be scheduled on June 29 but was postponed by a month on June 22 mentioning several outstanding bugs. The project is the “most complex program of work we’ve undertaken” as described by IOHK.
IOHK’s “prime concern” is confirming the upgrade is accomplished in a “safe and secure” manner. It reports the Vasil node is generating over 75% of the testnet network’s blocks and believes there is “good chain density to proceed safely.”
The last important upgrade to the blockchain was in September 2021when the Alonzo hard fork for the first time used Plutus scripts, a smart contract development language purpose-built for Cardano.
Though the upgrade was extensively considered to be a disappointment as Cardano still only has 11 Dapps according to DeFi Llama. The co-founder of Cardano, Charles Hoskinson predicted earlier that there would be “thousands of DApps” on Cardano by 2021 and is confident that developers are eagerly waiting for the Vasil upgrade to launch their projects.
The Vasil node is named after Vasil Stoyanov Dabov, an artist and Cardano community member and ambassador who passed away in December 2021 after a diagnosis of pulmonary embolism.
Cardano is a proof-of-stake (PoS) blockchain and is advertised as a so-called “Ethereum Killer” which aims to beat Ethereum (ETH) by providing better scalability, transactions per second, and lower fees.
According to CoinGecko, presently, its native coin ADA is in the eighth position with a $15.7 billion market capitalization at a price of around $0.45, down 85% from its all-time high of over $3 in September 2021.
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