The long-awaited Vasil hard fork has been completed on the Cardano testnet, which is an important step towards making it a reality on the mainnet or mainnet and promises extensive performance improvements.
Now Project developers, staking pool operators (SPOs), and exchanges are encouraged to deploy their work on the testnet to ensure integrations run smoothly when the mainnet gets the Vasil treatment in about four weeks.
We’re happy to report that today at 20:20 UTC the IOG team has successfully hard forked the #cardano Testnet. This is an important next step in the journey towards the Vasil upgrade on mainnet.
— Input Output (@InputOutputHK) July 3, 2022
We are happy to report that today at 20:20 UTC the IOG team has successfully hard forked the Cardano Testnet. This is an important step on the way to the Vasil update on the mainnet.
Once completed on the main network, The Vasil hard fork will enable faster block creation and greater scalability for decentralized applications (DApps) running on Cardano. Input Output HK (IOHK), the organization that produces Cardano, said in a tweet on Sunday that, In addition to performance improvements, developers will benefit of “greatly improved performance and scripting efficiency” and lower costs.
Vasil will also enable interoperability between Cardano sidechains, one of the main features that the developers intend to release in the current Basho phase of blockchain development. Basho is the fourth phase of development of Cardano, which focuses on scaling, and will be followed by the Voltaire phase, in which governance will be the main objective.
The Vasil upgrade is now live on testnet, coming to mainnet in a few weeks. Expect Cardano DeFi to go into the rapids from here
— ADA whale (@cardano_whale) July 3, 2022
The Vasil update is already live on the testnet, and will hit the mainnet in a few weeks. Expect Cardano DeFi to hit the rapids from here.
IOHK also noted that there would not be a mainnet hard fork proposal until “ecosystem partners are comfortable and ready,” but it is expected to come in about four weeks.
The previous phase, Goguen, saw the launch of smart contract capabilities on Cardano, which decentralized finance (DeFi) developers leveraged to launch dozens of decentralized exchanges (DEXs) and DeFi protocols, according to the Cardano Cube ecosystem tracker.
The main Cardano DApp, with $49.7 million total value locked (TVL), is currently the WingRiders DEX, according to Defi data compiler DefiLlama.
The testnet hard fork has done little to increase the price of Cardano (ADA) as it is only up 0.1% in the last 24 hours; trades at USD 0.45according to CoinGecko.
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