Friday, December 9, 2022
 

Cardano Vice President Shares Details of Vasil Upgrade

  • Cardano foundation vice president reiterated that the Vasil upgrade would take place using Cardano’s HFC to merge the previous protocol with the latest.
  • The hard fork would reduce script execution costs and transaction size and improve throughput.
  • Crypto exchanges Gate.io, BTCTurk, OKX, and WhiteBit, express readiness for the network upgrade.

In a blog post, Mel McCann, vice president of engineering at the Cardano Foundation, reiterated that the much anticipated Vasil Hard-Fork slated for September 22 would take place using Cardano’s hard fork combinator (HFC) approach to merge the previous protocol with the latest one.

He added that upon the successful merger, the Cardano mainnet would transition to the “Basho era,” expanding the capabilities of the blockchain with new functionalities, given the assorted fixes in the last few months.

McCann also noted that the upgrade will introduce changes that enhance the handling of on-chain scripts, “thus reducing script execution costs, transaction size and improving throughput.”

Importantly, decentralized app (dApp) developers need to upgrade their Cardano components before the final decision to hard-fork the mainnet, according to the vice president.

Yesterday, Input Output Global Inc., the team behind the Cardano blockchain, announced that five different exchanges and projects have shown that they are ready for the Vasil upgrade. These were crypto exchanges Gate.io, BTCTurk, OKX, WhiteBit, and Revuto.

Vice president McCann commented:

As part of the technical assistance given to exchanges, our Integrations Team ensures they receive adequate information and are properly educated about what the hard-fork will entail as well as the way to use the new functionalities and how to execute the upgrade. Some exchanges lean on managing unspent transaction output (UTxO) and address management code.

The Cardano foundation named the network upgrade “Vasil” in memory of a mathematician and Cardano community member from Bulgaria, Vasil Dabov, who died not too long ago. Dabov, according to the vice president, was instrumental in many developmental feats for the network.

  • Cardano foundation vice president reiterated that the Vasil upgrade would take place using Cardano’s HFC to merge the previous protocol with the latest.
  • The hard fork would reduce script execution costs and transaction size and improve throughput.
  • Crypto exchanges Gate.io, BTCTurk, OKX, and WhiteBit, express readiness for the network upgrade.

In a blog post, Mel McCann, vice president of engineering at the Cardano Foundation, reiterated that the much anticipated Vasil Hard-Fork slated for September 22 would take place using Cardano’s hard fork combinator (HFC) approach to merge the previous protocol with the latest one.

He added that upon the successful merger, the Cardano mainnet would transition to the “Basho era,” expanding the capabilities of the blockchain with new functionalities, given the assorted fixes in the last few months.

McCann also noted that the upgrade will introduce changes that enhance the handling of on-chain scripts, “thus reducing script execution costs, transaction size and improving throughput.”

Importantly, decentralized app (dApp) developers need to upgrade their Cardano components before the final decision to hard-fork the mainnet, according to the vice president.

Yesterday, Input Output Global Inc., the team behind the Cardano blockchain, announced that five different exchanges and projects have shown that they are ready for the Vasil upgrade. These were crypto exchanges Gate.io, BTCTurk, OKX, WhiteBit, and Revuto.

Vice president McCann commented:

As part of the technical assistance given to exchanges, our Integrations Team ensures they receive adequate information and are properly educated about what the hard-fork will entail as well as the way to use the new functionalities and how to execute the upgrade. Some exchanges lean on managing unspent transaction output (UTxO) and address management code.

The Cardano foundation named the network upgrade “Vasil” in memory of a mathematician and Cardano community member from Bulgaria, Vasil Dabov, who died not too long ago. Dabov, according to the vice president, was instrumental in many developmental feats for the network.

 

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