Key points to remember
- Cardano CTO Kevin Hammon said there could be “a few more weeks” before the network rolls out its Vasil upgrade.
- Vasil is Cardano’s most complex upgrade to date, aimed at improving the scalability of the network.
- It was originally slated to launch on June 29, but suffered two delays to allow more testing time.
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Cardano core technology program manager Javier Franco said the team’s priorities are to ensure things are “done right” even if the launch of the Vasil hardfork is taking longer.
Cardano again delays Vasil Hardfork
After failing to launch last month, Cardano’s Vasil hardfork has been delayed again.
Kevin Hammon, the technical lead of developer Cardano Input Output Global, said in Thursday interview that the highly anticipated Vasil upgrade would be postponed to complete testing and ensure a “smooth process”. He added that it could be “a few more weeks” until the update is ready to go live.
According to Input Output Core Technology Program Manager Javier Franco, the Vasil hardfork is Cardano’s “most significant update” to date. “There are a lot of moving parts, a lot of dependencies,” he said, explaining that the team’s priority is to make sure “things are done right,” even if the launch of the update to level takes longer.
The hardfork was originally scheduled to go live on June 29, but as the deadline was encroaching, Input Output moved the goal post to the last week of July to “allow more time for testing”.
The upgrade promises to significantly increase Cardano’s scaling capabilities. Input Output previously said it was the most complex venture Cardano has taken to date. Besides the sheer technical complexity of the code itself, upgrading requires significant coordination among ecosystem stakeholders to ensure a smooth transition.
Cardano is the eighth largest cryptocurrency in the world with a market capitalization of approximately $17.5 billion. However, despite being one of the oldest and best-known layer-1 smart contract networks in the crypto industry, it has failed to create a vibrant DeFi ecosystem like many of its competitors. direct. According Defi Llama data, he holds approximately $136.65 million in total value locked. Ethereum, the largest smart contract network, is approaching $57.44 billionwhile Solana holds $2.69 billion.
Cardano’s native ADA token was largely unaffected by news of Vasil’s postponement. According CoinGecko Datait is currently trading at $0.52, up 5.7% on the day.
Disclosure: At the time of writing this article, the author of this article owned ETH and several other cryptocurrencies.