- IOHK issued a rollout status for the Vasil hard fork and said they are getting closer to launch.
- Charles Hoskinson reassured investors that there were no quality issues with the Vasil upgrade.
- The Vasil hard fork is expected to increase throughput on the Cardano blockchain.
In a recent Twitter thread, Input Output (IOHK) announced that they, along with Cardano Foundation and Cardano technical community, issued a rollout status in bringing the Vasil upgrade to the Cardano mainnet.
Here’s a rollout status as of 25th August 🧵👇
— Input Output (@InputOutputHK) August 25, 2022
During a recent live stream, IOHK’s head, Charles Hoskinson, reassured investors that there were no quality issues with the Vasil upgrade. The highly awaited upgrade was initially supposed to go live on the mainnet in early June but was pushed back on several occasions due to technical constraints.
For the upgrade to take place, over 75% of SPOs are required to upgrade their nodes. According to the data provided on the Twitter thread, more than 57% of stake pool operators (SPOs) are running version 1.35.3 of the node. This means Cardano is already halfway through the upgrade.
The Vasil hard fork comes after Cardano’s Alonzo hard fork, which was launched in September late year. Notably, this previous upgrade enabled smart contracts. The Vasil hard fork is expected to increase throughput on the Cardano blockchain and improve the development of smart contracts and decentralized apps (dApps).
Amid the launch of the Vasil upgrade, Cardano is still struggling with its prices. Over the last couple of weeks, the price of Cardano has been struggling along with the rest of the market. While people presumed that the hype of Vasil hard fork would shoot the price of Cardano, the reverse has been the case. The decline in price has pushed the cryptocurrency further down on the market cap.