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On Monday, the Input-Output (IOHK) announced that the most awaited Vasil hard fork has been completed by the Cardano’s testnet. It added that this is an important step in the way towards Vasil upgrade on mainnet.
Vasil upgrade will enhance Cardano
The declaration mentioned that the network is now inviting stake pool operators (SPO) and developers to build on Cardano. It added that exchanges are also welcome to commence their final testing and integration processes.
The Twitter Thread highlighted that the Vasil upgrade is the most aspiring program of work they have undertaken. The major concern has been ensuring the safe and secure upgrade as the whole community is involved.
The Vasil upgrade will enhance the capability and performance of the Cardano network. Meanwhile, more updates will come over the following weeks as the test progresses.
The Cardano (ADA) has been on a downtrend since the beginning of the year. ADA prices have dropped by 61% over the past 90 days. It is trading at an average price of $0.448, at the press time. However, it is still holding a total market cap of $15.2 billion.
When will mainnet proposal will be submitted?
It is expected that after completing the full process, ADA prices might shoot up, as it was the anticipated upgrade for the network. IOHK mentioned that the Vasil project is a very complex program of work. It will require to be checked for backward compatibility. While SPOs will be making some scripting adjustments.
It added that the community has requested a 4 week period following the testnet hard fork. This will allow SPOs, developers and exchanges to test it. It is required in order to trigger the hard fork for the Cardano mainnet.
Meanwhile, to smoothen the process the IOG will be working with exchanges and DApp developers. The Update proposal to upgrade the Cardano mainnet to Vasil will be submitted when the partners get comfortable.