Cardano’s Vasil upgrade is finally complete
Cardano’s Vasil upgrade is complete. The long-awaited offsetting will enable increased network capacity, higher throughput and lower transaction costs on equal-reviewed, proof-of-stake blockchain platform.
“The Vasil hard fork moves us toward this goal by improving Cardano’s fundamental functions, upgrading the technology’s capacity to transform our traditional financial and social systems, and ultimately promote decentralized financial empowerment,” Frederik Gregaard, CEO of the Cardano Foundation, told The Block.
The Vasil hard fork focuses on optimization, scalability and interoperability. It is part of Cardano’s Basho Era – one of the critical development phases of the Cardano roadmap.
During the upgrade, Vasil required no action for regular ADA holders using Cardano for transactions and dApps as the transition happened behind the scenes.
The upgrade was originally planned for June, but the delayed upgrade also enabled Plutus v2 improvements to Cardano’s smart contracts.
The Vasil upgrade has brought the blockchain platform closer in line with the capabilities of Ethereum – the largest smart contract platform. It further opens up the potential for current and new Cardano DeFi projects to create more powerful, efficient and cost-effective applications.
Cardano founder Charles Hoskinson said, “(We) knew over time we could get to what Ethereum has done, but we understood a roadmap to get there,” ahead of the upgrade about the blockchain platform’s gradual approach to adding new abilities.
The upgrade date was finalized earlier in September by the Cardano-focused research and development company, Input Output Global (IOG). The decision was made after the necessary critical mass indicators were completed and successfully obtained assurances from operators, exchanges and dApp communities that they were ready for Vasil.
According to The Block, the Vasil upgrade was carried out in collaboration with people from across the Cardano ecosystem from the core development team, Cardano Foundation, IOG, Emurgo and the wider Cardano community via technical Cardano Improvement Proposals (CIPs).
Cardano stated that the upgrade promises increased functionality, performance and scalability. The new Vasil features will be available on the mainnet after an epoch, on September 27th.
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