Cardano Vasil upgrade inches closer to mainnet following test net launch
The crypto-verse requires regular network updates. For the space to advance, it must be developed in accordance with the number and needs of its users. Cardano's most recent version has been a step in that direction. The IOG team successfully hard forked the Cardano testnet, according to the Input-Output HK.
The IOG team has successfully hard forked the #Cardano testnet. pic.twitter.com/BSZsXmu9Lx
— Watcher.Guru (@WatcherGuru) July 3, 2022
Today at 20:20 UTC, the Cardano Vasil hard fork was finished on the testnet. This does not imply that the hard fork itself has been finished, though. On the mainnet, the Vasil update has not yet happened. A possible transfer to the mainnet will apparently be made easier by Cardano's most recent release.
The hard fork would not be suggested on the mainnet until all ecosystem participants were "comfortable and ready," according to IOHK.
Cardano’s Vasil hard fork to go on the mainnet in four weeks?
Following a recent development, IOHK asked exchanges, stake pool operators (SPO), and network engineers to assume control. The aforementioned organizations began putting their work on the testnet as a result of the initiative.
Projects were instructed to research backward compatibility because the Vasil upgrade is a "complex program of development." In addition, SPOs were asked to fine-tune their writing. Vasil is furthermore anticipated to improve Cardano's performance. Vasil is hailed as a network revolution with increased throughput, better developer experience, quicker block formation, scalability, and interoperability.
IOHK offered further explanations on the hard fork,
The community has asked for a 4-week window after the testnet hard fork to give SPOs, devs, and exchanges time to test and update before the mainnet hard fork for #Cardano is initiated.
Additionally, the native cryptocurrency ADA of the Cardano network wasn't in line with the network's preparations for the upcoming hard fork. The market as a whole has had some difficulty with the bearish takeover. ADA, like other assets, was destroyed by the bears. The alternative coin's price was $0.447 at the time of publication, down 10% in the previous two days. Its price seems to be hardly affected by the Cardanos Vasil hard fork because it increased by 1% during the preceding 24 hours.