Cardano Delays Vasil Hardfork Due to Pending Bug Fixes

Blockonomics
Cardano Delays Vasil Hardfork Due to Pending Bug Fixes
Minersgarden


key takeaways

Cardano has delayed its Vasil hard fork upgrade until the last week of July. Input Output Global, the company behind Cardano, cited seven bugs as the reason for the delay. The Vasil hard fork should significantly improve Cardano’s underlying performance.

share this article

Input Output Global, the development company behind Cardano, has delayed the network’s long-awaited Vasil hard fork upgrade. The team said it had seven bugs to fix and wanted to “set aside more time for testing.”

Cardano delays Vasil upgrade

The Cardano upgrade that will bring the network into the new “Basho” era has been delayed.

Input Output Global announced in a blog post late Monday that the release date of Cardano’s Vasil hard fork will be moved from its original target date of June 29 to the last week of July. “After some deliberation, we have agreed not to send a hard fork update proposal to the testnet today to allow more time for testing,” IOG wrote, explaining that there are seven more bugs to fix, none of which are listed as Serious error.

bybit

The Vasil hard fork is the most significant update to Cardano since the Alonzo hard fork launched last September. This is part of Cardano’s long-term plan to transition from the so-called Goguen to the Basho era, dubbed “The Era of Optimization to Improve the Scalability and Interoperability of the Network”. Whereas previous eras focused on decentralization and bringing smart contract functionality to the network, Basho focused on improving Cardano’s underlying performance to better support DeFi applications.

Specifically, the Vasil hard fork will introduce four key network improvements: CIP31, CIP32, CIP33, and CIP40. These upgrades should completely change the logic behind some of Cardano’s Plutus scripts. Together, they aim to reduce transaction size, thereby increasing the throughput of the network and reducing transaction fees. Hopefully the hard fork will also ameliorate the “concurrency” issue that has severely hurt the scalability of DeFi applications on Cardano.

“From multiple perspectives, Vasil’s work is the most complex development and integration program to date,” IOG wrote in the announcement, explaining that releasing the upgrade requires significant coordination among ecosystem stakeholders. For this reason, IOG will allow 4 weeks between the scheduled testnet and mainnet launch to allow exchanges and other ecosystem participants sufficient time to prepare.

Cardano ADA token Reactions to the news were relatively stagnant. Since the announcement, it has traded between $0.48 and $0.50.

Disclosure: At the time of writing, the author of this article owns ETH and several other cryptocurrencies.

share this article

The information on or accessed through this website has been obtained from independent sources that we believe are accurate and reliable, but Decentral Media, Inc. makes no representations about the timeliness, completeness or accuracy of any information on or accessed through this website. Representations or warranties. Decentral Media, Inc. is not an investment advisor. We do not provide personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may be out of date, or may be incomplete or inaccurate. We may, but are not obligated to update any outdated, incomplete or inaccurate information.

You should not make investment decisions regarding ICOs, IEOs or other investments based on the information on this website, nor should you interpret or otherwise rely on any information on this website as investment advice. If you are seeking investment advice regarding an ICO, IEO or other investment, we strongly recommend that you consult a licensed investment advisor or other qualified financial professional. We do not accept compensation of any kind for analyzing or reporting on any ICO, IEO, cryptocurrencies, currencies, tokenized sales, securities or commodities.

View full terms and conditions.

BTCC

Be the first to comment

Leave a Reply

Your email address will not be published.


*