Cardano update: Vasil hard fork is “ever closer”
The blockchain company behind the Cardano Network, Input Output Hong Kong (IOHK), announced via Twitter on August 25 that the Vasil hard fork is “ever closer”. Stake Pool Operators (SPOs) running the latest node (1.35.3) now account for 42% of mainnet block production in the current epoch. For bringing the Vasil upgrade to the Cardano mainnet, 75% is required.
"We get ever closer to the Vasil upgrade"
On August 24, Input Output Hongkong (IOHK) announced a rollout status via Twitter:
📢 The team at IOG, along with @CardanoStiftung and the wider @Cardano technical community continue to work together to bring the #Vasil upgrade to the #Cardano mainnet. 🙌— Input Output (@InputOutputHK) August 25, 2022
Here’s a rollout status as of 25th August 🧵👇
Three critical mass indicators crucial
In addition to the target that 75% of the mainnet blocks must be produced by nodes with version 1.35.3, two other indicators are crucial to be able to carry out the Vasil upgrade. Thus, 25 exchanges (which corresponds to 80% of the liquidity) and the ten most important mainnet DApps must also have upgraded.
(1) Mainnet nodes:
Mainnet nodes status:— Input Output (@InputOutputHK) August 25, 2022
↗️SPOs/nodes: SPOs running node 1.35.3 (the #Vasil release candidate) now account for 40% plus of mainnet block production in the current epoch.
📋 The metric we’re chasing is 75%.
Data courtesy: @cexplorer_io @PooltoolI 🙏
💱 Exchanges: one last small piece of work to do (Cardano Wallet Configs/Nix docker set-up) before exchanges have all they need to integrate. Expect more news on this within the next few working days. 80% by liquidity is the target for the upgrade🎯— Input Output (@InputOutputHK) August 25, 2022
4 out of the ‘Top 10’ (by #Cardano TVL) have thus far confirmed to us they are actively testing against node 1.35.3 on the pre-production testnet. We’ll keep you posted as this number go up! 📈 😀— Input Output (@InputOutputHK) August 25, 2022
Vasil upgrade to reduce transaction size & costs
The hard fork was planned for June 29, but was repeatedly delayed, which was quite critically assessed by the community on Twitter. The long-awaited Vasil upgrade aims to reduce transaction size and enable more network activity while reducing costs.
This article does not provide investment advice. Historical cryptocurrency data is not a guarantee of future market developments. The author may hold several of the cryptocurrencies mentioned in this article.
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