Vasil Hard Fork: Plutus V2 Scripts All Ready To Go Live On Cardano Mainnet

The second set of the Vasil hard fork will go live on the Cardano mainnet at epoch 366, estimated around 21:45 UTC. The capabilities including the Plutus V2 scripts, diffusion pipelining, reference inputs, inline datums, and reference scripts will become available to use by developers. As a result, the Cardano (ADA) price shows significant movement, rising nearly 3% in the last 24 hours. However, the ADA price continues to move in a range near the $0.45 level.

Vasil Hard Fork Second Cardano Mainnet Event

The IOG and Cardano Foundation teams successfully triggered the Vasil hard fork on the Cardano mainnet on September 22 at 21:45 UTC. Moreover, the team successfully submitted the Plutus V2 cost model to mainnet on September 23. This will make full Vasil capabilities available to developers at epoch 366 on September 27.

The second set of the Vasil hard fork will activate new Plutus features and the Plutus V2 cost model on the Cardano mainnet. As per IOG, the capabilities including node and CLI support for reference inputs, inline datums, reference scripts, and collateral outputs, as well as the Plutus cost model will become available for developers.

The Plutus V2 script improves Cardano’s smart contracts platform. Also, it enables higher transaction throughput and increased cost-efficiency. Diffusion pipelining allows faster block propagation and improves Cardano network capacity.

Furthermore, reference inputs, inline datums, reference scripts, and collateral outputs add capabilities including on-chain data sharing, script creation by developers, transaction size reduction, and funds prevention during failure.

Thus, it improves transaction speed, DApps scalability, and low transaction costs on the Cardano network.

As per PoolTool, 100% of mainnet blocks are created by the Vasil node 1.35.3. Also, nearly 25 billion ADA tokens have been staked by the community and 94% of pools are updated with the latest node 1.35.3.

Cardano (ADA) Price Movement

The Vasil Hard Fork Combinator (HFC) mainnet event on September 22 failed to bring any significant move in the Cardano (ADA) price. The Cardano (ADA) price continues to trade in the $0.42-$0.55 range since May.

Moreover, the ADA price is trading near the $0.45 level for a very long-time. The price is up 3% in the last 24 hours. While investors expect a move to $1, experts such as analyst Peter Brandt believe a downturn below $0.38 is most likely.

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period and is currently covering all the latest updates and developments in the crypto industry.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.