The Cardano ecosystem is ready to embrace its highly anticipated Vasil hard fork upgrade today. The upgrade is set to introduce new elemental changes in the blockchain and will play an important role in improving the network’s processing and overall scalability.
Cardano Vasil Hard Fork Upgrade Is Ready To Launch Today
The clock is ticking as Cardano inches closer to deploying its much-awaited Vasil hard fork upgrade today. The upgrade is finally being deployed after going through several tribulations and being delayed multiple times to address critical bug issues. However, the day has finally arrived when the upgrade is all set to roll out in less than 24 hours, with IOHK, the company behind the development of Cardano, confirming its readiness.
IOHK took to Twitter to confirm that all three mass indicators, which were important for the upgrade to launch, have now been met for the team to roll out the Vasil hard fork upgrade later today.
Furthermore, according to IOHK, 39 cryptocurrency exchanges have upgraded to the current network’s version, representing nearly 87% of the ADA liquidity.
In addition, Input Output further revealed that 98% of the blocks are now being created by Vasil Node version 1.35.3 with some of the top Cardano DApps by TVL confirming their part in the upcoming Vasil hard fork rollout.
Unlike other typical hard fork upgrades that usually split the computational resources and duplicate the data of the digital assets, Cardano’s Vasil hard fork is unique in many ways as it utilises a special hard fork combinator aka HFC technology that enables the upgrade to a new protocol version without restarting.
In simple terms, when Cardano upgrades to the new Vasil version, the new rules introduced by the upgrade are automatically changed without altering or changing the history of the blockchain.
The Vasil Hard Fork upgrade is dubbed as one of the most important events for Cardano’s ecosystem. The upgrade was originally scheduled to go live in June but was delayed several times to address critical bug issues. Now that the upgrade is set to roll out in less than 24 hours, the ADA community is also anticipating a significant Cardano price rally, which may be triggered by the upcoming Vasil deployment. However, at press time, ADA is sitting at $0.4497, up 0.50% in the last 24 hours.