Cardano has postponed its Vasil upgrade by four weeks. It’s now slated for late July.
Shutterstock covers by JLStock and Min C. Chiu (edited by Mariia Kozyr)
Cardano has postponed its Vasil hardfork upgrade to the last week of July.
Input Output Global, the company behind Cardano, cited seven bugs as the reason for the delay.
The Vasil hardfork is supposed to significantly improve Cardano’s underlying performance.
Share this article
Input Output Global, the development company behind Cardano, has postponed the network’s long-anticipated Vasil hardfork upgrade. The team says it has seven bugs to iron out and wants to “allow more time for testing.”
Cardano Postpones Vasil Upgrade
The Cardano upgrade that would take the network to the new “Basho” era has been postponed.
Input Output Global announced in a blog post late Monday that the launch date for Cardano’s Vasil hardfork would move from the original target date of Jun. 29 to the last week of July. “After some consideration, we have agreed NOT to send the hard fork update proposal to the testnet today to allow more time for testing,” IOG wrote, explaining that there were seven more bugs to fix, none of which ranked as severe.
The Vasil hardfork is Cardano’s most significant update since the Alonzo hardfork launched last September. It comes as part of Cardano’s long-planned transition from the so-called Goguen to the Basho era, dubbed “an era of optimization, improving the scalability and interoperability of the network.” Where the previous eras focused on decentralization and introducing smart contracting capabilities to the network, Basho is about improving Cardano’s underlying performance to better support DeFi applications.
Specifically, the Vasil hardfork will introduce four key network improvements: CIP31, CIP32, CIP33, and CIP40. These upgrades are supposed to overhaul the logic behind some of Cardano’s Plutus scripts. Together, they are meant to reduce the size of transactions, thus increasing the network’s throughput and reducing transaction fees. It’s hoped that the hardfork will also improve the “concurrency” problem that has severely impaired the scalability of DeFi apps on Cardano.
“The work on Vasil has been the most complex program of development and integration to date, from several angles,” IOG wrote in the announcement, explaining that releasing the upgrade would require significant coordination among the ecosystem’s stakeholders. For this reason, IOG is leaving four weeks between the scheduled testnet and mainnet releases to allow exchanges and other ecosystem participants adequate time to prepare.
Cardano’s ADA token stayed relatively stagnant in response to the news. It’s traded within the $0.48 to $0.50 range since the announcement dropped.
Disclosure: At the time of writing, the author of this article owned ETH and several other cryptocurrencies.
Share this article
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.