After several months of delays, The Cardano Vasil upgrade and hard fork has finally gone live on Thursday at 9:44 pm UTC, bringing “significant performance and capacity” improvements to the blockchain.
The success of the Cardano mainnet fork was announced by blockchain firm Input Output Hong Kong (IOHK) on Twitter on Thursday, while others too observed the hard fork in a live Twitter Spaces with Cardano co-founder Charles Hoskinson.
#Vasil mainnet HFC event successful!
We’re happy to announce that today, at 21:44:00 UTC, the IOG team, in collaboration with the @CardanoStiftungsuccessfully hard forked the Cardano mainnet via a HFC event, thus deploying new #Vasil features to the chain.
1/5— Input Output (@InputOutputHK) September 22, 2022
Vasil mainnet HFC event success!
We are pleased to announce that today at 21:44:00 UTC, the IOG team, in collaboration with the @CardanoStiftung, successfully forked the Cardano mainnet via an HFC event, thus rolling out the new features. Vasil’s on-chain.
IOHK previously stated that the significant updates brought by the fork is the transmission of blocks without full validation, allowing faster block creation. Updates to its Plutus smart contracts to increase efficiency also allow decentralized applications to be deployed and run at lower cost.
Better buy some mouthwash. Vasil is live. Anyone have recommendations for Greg 🙂 https://t.co/RTehxad97Z
— Charles Hoskinson (@IOHK_Charles) September 22, 2022
It will be better to buy a mouthwash. Vasil is active. Does anyone have recommendations for Greg 🙂
The new capabilities brought by the Plutus script updates will be available to developers on the mainnet on September 27, after a time that currently lasts about five days.
Bill Barhydt, founder of cryptocurrency trading platform Abra called the update a “huge win for developers” with the decentralized finance platform Genius Yield tweeting which was “one of the most complex and consequential upgrades to the Cardano network ever done.”
Congrats to Cardano ($ADA) team on Vasil hardfork. More hard work in crypto paying off.
Making UTXO’s and inputs accessible to scripts/Plutus without spending them is a big win for developers. Well done!
Congratulations @IOHK_Charles @CardanoStiftung and teams!
— Bill Barhydt (@billbarhydt) September 22, 2022
Congratulations to the Cardano (ADA) team on the Vasil hardfork. More hard work on crypto that pays off.
Making UTXOs and inputs accessible to scripts/Plutus without spending them is a huge win for developers. Well done!
Congratulations @IOHK_Charles @CardanoStiftung and teams!
The update date was announced in early September by IOHK, while the “Critical mass indicators” needed to trigger the fork were reached within 24 hours of the event.
It comes after months of delays and rescheduling, with launch day originally scheduled for June, it was pushed back twice due to testnet issues caused by bugs in a previous node build creating compatibility issues.
Following the Vasil upgrade, Cardano continues to develop its layer 2 scaling solution, the Hydra head protocol, which processes transactions outside of the Cardano blockchain, although it continues to use it as a security and settlement layer.
The latest Hydra update on September 16 details that the team has addressed a known issue with Hydra nodes. The protocol does not have a set launch date, but it is intended to be in late 2022 or in the first quarter of 2023.
The announcement of the successful launch saw the price of Cardano’s ADA coin jump almost 4% in the last 24 hours, to $0.46, according to CoinGecko data, though still down over 4.5% on the week.
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