Recent reports from IOHK indicate that the Cardano will be unveiling the public testnet for Vasil Hardfork by June 2nd. These reports were met well by many Cardano Dapps developers since the upgrade promises many top features.
Cardano Vasil Upgrade to Launch Testnet by June 2nd
Cardano announced plans to implement the Vasil upgrade sometime in June. According to a recently released statement by IOHK, they will begin a testnet by June 2nd, with the mainnet release happening on June 29th.
Reports indicate that the Cardano Vasil upgrade will target to improve the scalability and usability of this blockchain. Cardano has constantly been upgrading the network in the past few months, with the Alonzo Hardfork launching last year.
According to various reports, while the testnet for the Vasil hard fork will be public by June 2nd, the mainnet release will happen towards the end of the month. Charles Hoskinson believes that this Vasil upgrade will offer massive performance improvements, especially Cardano’s smart contract capabilities. One Dapp developer highlighted some of the changes anticipated and how they will help them.
Changes Expected to Boost Scalability
The changes to be fully implemented in the Cardano network aim to boost scalability, efficiency, and fees. It comes in three forms CIP33, CIP32, and CIP31.
According to one Dapp developer behind the Epoch Art network, these upgrades will benefit Dapps. For instance, CIP33, the reference SC scripts improvement, will help ensure that all transactions use a script reference instead of holding the whole script. Currently, each smart contract transaction keeps the entire script; hence Epoch Art transactions would start at 10k bytes, costing~1.18₳. By just using the reference, trades will begin with less than 10k bytes, effectively translating into fewer transaction fees.
The Cardano Inline Datums(CIP32) is another feature that improves the communication of data values between participants. According to a Cardano release,
“We expect that, provided we are able to bring the cost low enough, a large proportion of dapp developers will make use of this feature, as it will simplify their systems substantially.”
GLneto noted that projects like Epoch Art would not require any extra bytes, hence lower fees. Moreover, other third parties can interact with projects SC without understanding the data format. Another upgrade coming as CIP31 is the reference input, which can read on-chain info without actually consuming it. You can consume the data of an on-chain application like stablecoin without consuming the output. This reduces the cost since the data provided and paid for once can be used in subsequent transactions.
Expectations the Vasil will Make Cardano Bullish
Since the announcements of the impending upgrades, many experts have constantly predicted that it will cause ADA to be bullish in the summer. It’s common for upgrades to force token prices high, as in the case of the London and Alonzo hard forks in ETH and ADA last year. This future upgrade will likely help ADA reclaim its ATH.
Source: https://crypto.news/cardanos-vasil-hard-fork-public-testnet/