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August 28, 2022

Hoskinson On Date Of Cardano Vasil Hard Fork Upgrade

The Cardano Vasil hard fork is now in transit. On Friday, Charles Hoskinson, CEO and creator of IOG, the company that is responsible for Cardano, disclosed when the long-delayed Vasil hard fork is anticipated to finally commence.

The Ethereum Merge will happen soon, but Cardano’s Vasil hard fork will also happen soon. The hard fork should be accessible in the coming weeks, provided that everything goes according to plan and all of the issues are ironed out.

During a livestream on Friday, Charles Hoskinson, the inventor of Cardano, provided a brief update on the upcoming Vasil hard fork. This fork is named after Vasil Dabov, a Cardano enthusiast and mathematician who passed away recently.

The hard fork is expected to take place “sometime in September,” according to Hoskinson, who was also one of the co-founders of Ethereum. It is not a coincidence that the long-awaited merger of Ethereum will take place on or around September 15 of this year.

However, according to Hoskinson, the precise timing of the Cardano split would partially be determined by cryptocurrency exchanges:

“The next significant push is to get the exchanges on board,” the spokesperson said. Binance has announced that they are in the process of upgrading by volume right now. After the announcement of a hard fork date, there is often a large rush, and individuals want to go through it as quickly as possible.

Stake Pool Operators (SPOs) that are operating on the most recent version 1.35.3 are currently responsible for producing 55% of mainnet blocks in the current epoch. This is more than half of the 75% threshold that must be reached before Vasil may be enabled on the Cardano mainnet.

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The hard fork could encourage more people to use ADA since it would make the network run more smoothly. This is the primary argument for its use. This, in turn, might end up giving the token the ability to go farther. The coin’s supporters are quite excited about the prospect of it reaching $1. At the time of this writing, one ADA token may be purchased for $0.45.