One of the most important updates to the Cardano network has been successfully implemented. Vasil Hard Fork thus makes ADA even more competitive.
A landmark event for Cardano
Hard Fork Vasil is undoubtedly the most important development since the launch of smart contracts, which took place last September. For ADA, it is also one of the biggest upgrades ever. The success was announced on Thursday, September 22, by blockchain company Input Output Hong Kong (IOHK).
“We are pleased to announce that today, at 21:44:00 UTC, the IOG team, in cooperation with Cardano Stiftung, successfully forked the Cardano core network via an HFC event, thus implementing the new Vasil features on the chain.”
The Vasil implementation could be followed along with Cardano founder Charles Hoskinson during his Twitter Spaces.
The final update date was announced in early September. Its implementation took place 3 months after the originally scheduled date. However, the indicators of the so-called “critical mass” necessary to launch the fork were reached just 24 hours before the scheduled implementation time.
The changes Vasil brings to Cardano
Excitement about the update was expressed on his Twitter profile by Abra platform developer Bill Barhydt. Quote:
“Congratulations to the Cardano (ADA) team for hardforking Vasil. Hard work in cryptography is paying off. Making UTXO and script/Plutus inputs available without having to release them is a big win for developers. Well done! Congratulations to Charles, Cardano Stiftung and the team!”.
However, to understand what Vasil is contributing, it is worth looking at the source. This is perfectly illustrated in yesterday’s post by the IOHK team, which states:
“The Vasil update will bring significant performance improvements and capabilities to Cardano, from higher throughput through diffusion pipelining, to a better developer experience, with significantly better script performance and lower costs.”
What’s in store for ADA now?
Following the successful Vasil upgrade, Cardano’s development team is focusing on a Layer 2 scaling solution called the Hydra Head protocol. Its goal is to process transactions outside the ADA blockchain. It is also intended to act as a security layer, while also providing settlement. The protocol, despite constant work and continuous updates, does not yet have a definite launch date. Nevertheless, experts expect it to be in late 2022, or early 2023.
In response to the success of the Vasil update, the ADA coin rose 4.3%, closing Thursday’s trading session at $0.458.