Tuesday, November 29, 2022
 

Cardano Vasil Upgrade Ready to Launch, 3 Critical Indicators Met

  • The Cardano team reported that all three critical mass indications required to start the Vasil upgrade had taken shape.
  • Thirty-nine crypto exchanges have certified Vasil readiness, accounting for over 87% of ADA liquidity.
  • Coinbase is the only major exchange with its integration status labeled “in process” for ADA liquidity.

The Cardano blockchain will deploy its much-anticipated network upgrade, Vasil Hard-Fork, in less than 12 hours. The team reported on Twitter that all three critical mass indications required to start the process had taken shape.

Input Output Hong Kong (IOHK), the engineering team behind the Cardano blockchain, noted that 39 crypto exchanges indicated they were prepared for the hard fork within the previous 48 hours, accounting for over 87% of Cardano’s (ADA) liquidity.

Bitpanda, eToro, KuCoin, Huobi Global, and more are among the exchanges that confirmed their readiness in the last 48 hours.

Additionally, over 98% of mainnet blocks are now being created by the Vasil node 1.35.3, and the top Cardano decentralized apps by Total value locked (TVL)  have now certified their readiness, marking all three criteria required.

According to the readiness website by IOHK, Coinbase is the only exchange among the major exchanges for ADA liquidity, with its integration status labeled as “in process.” But Coinbase recently signaled in a tweet that it would support the fork, noting that ADA transactions would be suspended during the Cardano Vasil hard fork.

The Vasil upgrade’s launch date was initially set for June, but it was twice postponed because of a flaw in Cardano’s previous node version that caused interoperability problems.

When the upgrade goes live, it will be the blockchain’s most significant change since the Alonzo hard fork in September of last year, which introduced smart contracts’ initial capabilities. This version intends to deliver improved smart contracts, lower prices, and higher network speed.

Faster block production is one of the fork’s most significant improvements, according to IOHK, as blocks may be transferred before they have undergone full validation.

  • The Cardano team reported that all three critical mass indications required to start the Vasil upgrade had taken shape.
  • Thirty-nine crypto exchanges have certified Vasil readiness, accounting for over 87% of ADA liquidity.
  • Coinbase is the only major exchange with its integration status labeled “in process” for ADA liquidity.

The Cardano blockchain will deploy its much-anticipated network upgrade, Vasil Hard-Fork, in less than 12 hours. The team reported on Twitter that all three critical mass indications required to start the process had taken shape.

Input Output Hong Kong (IOHK), the engineering team behind the Cardano blockchain, noted that 39 crypto exchanges indicated they were prepared for the hard fork within the previous 48 hours, accounting for over 87% of Cardano’s (ADA) liquidity.

Bitpanda, eToro, KuCoin, Huobi Global, and more are among the exchanges that confirmed their readiness in the last 48 hours.

Additionally, over 98% of mainnet blocks are now being created by the Vasil node 1.35.3, and the top Cardano decentralized apps by Total value locked (TVL)  have now certified their readiness, marking all three criteria required.

According to the readiness website by IOHK, Coinbase is the only exchange among the major exchanges for ADA liquidity, with its integration status labeled as “in process.” But Coinbase recently signaled in a tweet that it would support the fork, noting that ADA transactions would be suspended during the Cardano Vasil hard fork.

The Vasil upgrade’s launch date was initially set for June, but it was twice postponed because of a flaw in Cardano’s previous node version that caused interoperability problems.

When the upgrade goes live, it will be the blockchain’s most significant change since the Alonzo hard fork in September of last year, which introduced smart contracts’ initial capabilities. This version intends to deliver improved smart contracts, lower prices, and higher network speed.

Faster block production is one of the fork’s most significant improvements, according to IOHK, as blocks may be transferred before they have undergone full validation.

 

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