After several months of delays, Cardano’s Vasyl update and hard fork went live as of Thursday at 9:44 pm UTC, bringing “significant performance and capacity” improvements to the blockchain.
The success of the Cardano Minet hard fork was announced by blockchain company Input Output Hong Kong (IOHK) on Twitter on Thursday, while others It was noticed He hit a hard fork in the live Twitter space with Cardano co-founder Charles Hoskinson.
# Vasil Mainnet HFC Event Succeeded!
That today at 21:44:00 UTC the IOG team from @CardanoStiftungsuccessfully forked the Cardano mainnet through the HFC setup, thereby deploying a new one # Vasil to chain properties.
– Input Output (@InputOutputHK) September 22, 2022
A significant improvement that IOHK’s earlier fork brought was block distribution without full verification, allowing for faster block creation. Upgrades to Plutus Smart Contracts for greater efficiency allow decentralized applications to be deployed and run at lower costs.
A few mouthwashes are better. Vasil is live. Anyone have any tips for Greg 🙂 https://t.co/RTehxad97Z
— Charles Hoskinson (@IOHK_Charles) September 22, 2022
The new capabilities brought by PlutusScript’s updates will be available to developers on the mainnet on September 27th, after a period that currently lasts around five days.
Bill Barheit, founder of crypto trading platform Abera, called the update a “big win for developers” of decentralized finance platform Genius Yield. Tweeting This is “one of the most complex and consequential updates to the Cardano network to date.
Congratulations to the Cardano ($ADA) team on the Vasyl hardfork. Harder work with crypto payments.
Making UTXO’s and resources accessible to scripts/Plutus without extracting them is a huge win for developers. good job!
Congratulations @IOHK_Charles @CardanoStiftung And teams!
— Bill Barhydt (@billbarhydt) September 22, 2022
The upgrade date was announced by IOHK in early September, and the “critical mass indicators” needed to trigger the hard fork were reached within 24 hours of the event.
Related: Ethereum Post-Merger Hard Forks Are Here: Now What?
It comes after months of delays and rescheduling, with a launch date originally planned for June, delayed twice due to problems on the testnet with bugs in the multimode version causing compatibility issues.
Following the Vasyl update, Cardano continues to develop the Hydra head protocol, a layer-2 scaling solution that is using transactions outside of the Cardano blockchain as a security and settlement layer.
In the latest update on Hydra from September 16, the team listed a known issue with Hydra nodes. The protocol has no launch date, but is slated for sometime in late 2022 or the first quarter of 2023.
The announcement of the successful launch sent the price of Cardano’s coin ADA up nearly 4% over the past 24 hours to $0.46, according to CoinGecko data, although it is still down more than 4.5% for the week.