Monday, September 26, 2022
HomeImmutableXCardano Vasil upgrade ready with all ‘critical mass indicators’ achieved

Cardano Vasil upgrade ready with all ‘critical mass indicators’ achieved

The Cardano Vasil upgrade is scheduled to happen within 24 hours on Thursday, and the Cardano team notes that all three “critical mass indicators” required to trigger the upgrade have been met.

In the last 48 hours, 13 cryptocurrency exchanges have confirmed they are ready for a hard fork, according to a Twitter update Wednesday by Input Output Hong Kong (IOHK), the company behind Cardano. , which accounts for over 87% of Cardano’s exchanges (ADA) Liquidity.

Coinbase is the only ADA liquidity exchange listed as “in progress” for its integration status. according to Go to the ecosystem readiness page by IOHK.

However, a recent tweet by Coinbase already alluded to It said it would support the fork and said that ADA transactions would be suspended for maintenance “of the Cardano Vasil hard fork.”

Originally scheduled for a June launch, the Vasil upgrade was Launch date rescheduled twiceRecently because a bug was found Previous node versions of Cardano had incompatibility issues.

The updated Vasil node has been deployed and now more than 98% of the mainnet blocks are Created by updated nodes, the top of the blockchain Decentralized applications (DApps) It also confirms readiness and marks all three metrics required for upgrade progress.

According to market intelligence platform Santiment, news of the upgrade saw a 35.16% increase in social media buzz about ADA over the past seven days starting Monday, making it third behind Ripple and Ethereum.

Once Live, Upgrades Will Be Blockchain’s Most Important Thing Alonzo hard fork In September of last year, smart contract functionality was introduced for the first time. This upgrade is intended to provide smart contract enhancements, cost savings, and increased network throughput.

According to IOHK, one of the most significant upgrades that forks bring is faster block creation, as they can be submitted without full verification.

Related: Cardano Surpasses Bitcoin in Top Intimate Brands Globally in New Report

The Vasil upgrade is named after the late artist Vasil Stoyanov Dabov, a member and ambassador of the Cardano community, who died of a pulmonary embolism in December 2021.

ADA is currently priced at $0.44. according to On CoinGecko, it fell 3.4% in 24 hours, down more than 85% from its all-time high of $3.09 on September 2, 2021.