Fork, yeah! Cardano Vasil upgrade goes live

After several months of delays, the Cardano Vasil upgrade and hard fork finally went live at 21:44 UTC on Thursday, bringing “significant performance and capability improvements” to the blockchain.

The success of the Cardano mainnet hard fork was announced by blockchain firm Input Output Hong Kong (IOHK) on Twitter on Thursday, while others also reported. observed the hard fork is taking place in a live Twitter space with Cardano co-founder Charles Hoskinson.

IOHK has previously stated that the significant upgrades brought by the fork are the transmission of blocks without full validation, allowing for faster block creation. Upgrades to its Plutus smart contracts for increased efficiency also allow decentralized applications to deploy and operate more cheaply.

The new features brought by the Plutus Script upgrades will be available to developers on the mainnet on September 27, after an epoch that currently lasts around five days.

Bill Barhydt, founder of crypto-trading platform Abra, called the upgrade a “big win for developers” with decentralized finance platform Genius Yield Tweeter it was “one of the most complex and consequential updates to the Cardano network ever.”

The upgrade date was announced in early September by IOHK, while the “critical mass indicators” needed to trigger the hard fork were reached within 24 hours before the event.

Related: Ethereum post-merger hard forks are here: now what?

It comes after months of delays and rescheduling, with the launch day originally scheduled for June being delayed twice due to issues on the testnet caused by bugs in a previous node build creating compatibility issues.

Following the Vasil upgrade, Cardano continues to develop its layer 2 scaling solution, the Hydra Head protocol, which processes transactions off the Cardano blockchain while using it as a security and security layer. regulation.

The latest Hydra update from September 16 detailed that the team has resolved a known issue with Hydra nodes. The protocol does not have a set launch date, but it is planned for the end of 2022 or the first quarter of 2023.

The announcement of the successful launch sent the price of Cardano’s ADA coin up almost 4% in the past 24 hours to $0.46 according to data from CoinGecko, although it is still down more than 4.5% over the week.