Cardanos Vasil hard fork delayed for a few more weeks
Cardanos
Modified Date:- Published Date:-Categories: Cryptocurrency
Cardanos Vasil hard fork delayed for a few more weeks
Cardanos' much-awaited Vasil hard fork has been delayed for a few more weeks. The Vasil upgrade was supposed to go live in June, but the Cardano development team has prioritized a smooth network transition.
Input Output Global (IOG), the company responsible for Cardano research and development, on Thursday posted an update on YouTube about the upcoming Vassil hard fork. Vasil Hard Fork to Increase Scalability on June4, Cardano successfully completed a hard fork of its test net in preparation for the upcoming Vasil upgrade.
The Vasil hard fork is Cardano's most significant upgrade since the Alonzo hard fork was implemented in September 2021. The Vasil hard fork is also an important feature of Cardano's Basho phase. The latter is the fourth in a sequence of five construction epochs for the network. Bash of uses on scalability, while the last three are focused on foundation (Byron), decentralization (Shelley) and smart contracts (Goguen).
Vasil will introduce several scalability improvements when released on the main net. Enhanced "script performance and efficiency" and faster block generation speed are two examples. In addition, all users will benefit from lower network fees. Vasil will also enable interoperability between Cardano and other blockchains.
Cardano is currently the eighth largest cryptocurrency in the world with a market capitalization of over $17.5 billion. Despite being one of the oldest and best-known Layer 1 smart contract networks in the crypto industry, unlike many of its major rivals, it has yet to develop a robust DeFi ecosystem.
It has approximately $137 million in net worth in lock (TVL), according to DeFi Llama figures. Ethereum, the largest smart contract network, has a TVL of over $56 billion, while Solana has a TVL of $2.68 billion.
The Cardano community and team are very happy to share that we have decided to delay the Cardano Vasil hard fork for another few weeks, which will enable a major update in order to reach wider adoption of the first full smart contract platform in the world.