Finance

Cardano’s Vasil Hard Fork May Arrive Next Month

08/29/2022
Bitcoin Ethereum News

Cardano

  • Vasil hard fork will increase the block size of Cardano blockchain.
  • The founder says that Vasil hard fork will probably arrive in September 2022.
  • Developers are making sure there are no persisting issues following the update.

Users Might Witness Vasil Hard Fork Soon

Charles Hoskinson, founder of Cardano, has unveiled that the Vasil hard fork may be released in the upcoming month. The timeline was offered in a latest timeline in a video posted by him. He said that if the team did not encounter any more issues relating to the update, then the users might witness the launch in September 2022.

Charles Hoskinson shared that ‘It appears the hard fork is coming sometimes in September unless they discover something or witness a considerable slowdown during the process. Developers of IOHK previously issued their progress report concerning the Vasil hard fork on social media platform Twitter.

Image

Through the post, they informed the community that the team is currently pursuing the exchanges to onboard the exchanges on the ecosystem. As per IOHK, around 40% of SPOs are already updated and ready. It also revealed how one of the leading cryptocurrency exchanges has started working on their nodes to deploy the hard fork.

As per the video update, Charles Hoskinson said that the cryptocurrency exchange has updated 30% to 40% of Cardano sales volume, followed by the other leading exchanges.

What is Vasil Hard Fork?

Cardano is notorious for its extremely careful scientific approach. The five phases of the ecosystem’s growth were named after prime scientists, philosophers and poets throughout history. Even the name of this publick blockchain platform comes from Gerolamo Cardano, an Italian polymath. And the hard fork is named after the Cardano ambassador and Bulgarian mathematician Vasil Daboz, who is no more in this world. The move was taken to honor the individual.

Keeping it precise, Vasil hard fork will escalate the throughput on the blockchain, and make improvements in smart contracts’ development and decentralized applications. Cardano is continuously updating its blocks on the chain containing records of transactions. This update will upscale the block size. This translates into more space to feed the records in a block.

Source: https://www.thecoinrepublic.com/2022/08/29/cardanos-vasil-hard-fork-may-arrive-next-month/