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While The Merge is expected to take place in just over ten days, Cardano’s hard fork called Vasil now has a scheduled date. The highly anticipated Cardano fork will take place on September 22, or about nine days after Ethereum moves from proof-of-work (PoW) to proof-of-stake (PoS).
Cardano’s development team revealed a hard date for the upcoming Cardano (ADA) hard fork called Vasil, after Input-Output Global (IOG) founder Charles Hoskinson explained that it would happen in September during a Twitter live broadcast last week.
On Twitter, the IOG’s official social media account told the public that the “Vasil upgrade date [was] confirmed.” The developers noted that the codebase merge will follow “successful completion [and] extensive testing of all core components.”
The IOG further explained that the fork would be codified into the mainnet codebase on September 22. The IOG went on to add:
Vasil is the most important Cardano upgrade to date, bringing increased network capacity and lower cost transactions. The upgrade will also bring improvements to Plutus to enable developers to create more powerful and efficient blockchain-based applications.
IOG founder Charles Hoskinson also discussed the Vasil hard fork date in a live streaming on Twitter called “Vasil coming September 22, 2022.” The hard fork’s name Vasil comes from a Bulgarian Cardano community member and mathematician, Vasil Dabov, who recently passed away.
During the live broadcast, Hoskinson noted that it was incredible that the randomly chosen fork date falls on Bulgaria’s Independence Day. Four Cardano Improvement Proposals (CIP) are being added to Cardano’s (ADA) codebase.
During the implementation, Vasil will dock CIP-31 (reference inputs), CIP-32 (embedded datums), CIP-33 (reference scripts) and CIP-40 (safety outputs). It has been so by IOG developers last May that CIP-31’s reference script will reduce ADA’s transaction costs.
At the time of writing following the announcement, cardano (ADA) is up 2.3% against the USD in 24 hours. ADA has risen close to 10% in the past seven days and currently ADA is the eighth largest crypto market capitalization with a market cap of $16 billion.
What do you think about IOG and Charles Hoskinson announcing the launch date for the Vasil hard fork? Let us know what you think about this topic in the comments section below.
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