Cardano (ADA) is a project that has accustomed us to steady, detail-driven development. Due to the quality that Charles Hoskinson wants to provide to web users, a high-profile hard fork called Vasil is postponed. There was a disappointment in the market.
The Vasil hard fork of the Cardano network, scheduled for June 29, has been put on hold. As we learn from the official information, the developers working on the update are extremely close to completing the work. Despite this, seven bugs have surfaced that make it very difficult to meet the goal within the originally set deadline. Fortunately, none of the mentioned bugs has been classified as critical. However, according to Input Output Hong Kong’s (IOHK) Head of Delivery and Projects, Nigel Hemsley, they could take another four weeks to fix. This has set an approximate new date for the event, which is the last week of July.
A pinch of disappointment, a pinch of appreciation
The news about the delay of Cardano update has been received with some disappointment. On the other hand, the community appreciates this kind of move by the developers and points once again to one of the most important features of the ADA ecosystem, which is robustness.
Hemsley’s words seem to confirm this fact:
“The work on Vasil has been the most complex development and integration program to date, and it has been in many ways. It is a difficult process that requires not only significant work by the core teams, but also close coordination across the ecosystem.”
In further words, he continues:
“We realize that this news will be disappointing to some. However, we are exercising far-reaching caution to ensure that we conduct this implementation correctly.”
The essence of Vasil hard fork
Vasil is the most significant update to the Cardano network since the Alonzo launch last September. The event there introduced smart contracts to the project, while the current one improves the infrastructure running around them. Their main goal is to increase the capacity of the network and reduce the charges for its use. This is provided by four improvements: CIP-31 (Reference Inputs), CIP-32 (Inline Datums), CIP-33 (Reference Scripts) and CIP-40 (Collateral Outputs).
The event has so far had a positive impact on the ADA price, keeping it between $0.40 and $0.50. It has also helped Cardano gain nearly 55% in value against Bitcoin in three weeks.