Cardano has set September 22nd as its Vasyl Mainnet update date, blockchain founder Charles Hoskinson announced in a YouTube vlog on Friday. The hard fork was originally planned for June this year and has been changed twice.
According to Input Output Hong Kong (IOHK), a Cardano-related R&D company that worked on the update, three important critical mass indicators have been reached.
“1. 75% of mainnet blocks generated by last Vasyl node candidate (1.35.3) 2. Updated approximately 25 exchanges (representing 80% of Ada liquidity) 3. Top 10 DApps confirmed by TVL in pre-production and upgraded to 1.35.3. Ready for mainnet ”
IOHK wrote that of the top 12 crypto exchanges, MEXC and Bitrue are “ready” for an upgrade, while Binance is “imminent” and Upbit, Coinbase, WhiteBit, BKEX and HitBTC are “in progress”.
VASIL UPDATE: Date confirmed.
Following the successful completion and extensive testing of all core components and proven community readiness, we are also on board. @cardanostiftung He can announce today, September 22nd. # Vasil Improve on #Cardano Main network. $ADA
1/9– Input Output (@InputOutputHK) September 2, 2022
Developers have promised more scalability and lower fees than the hard fork, which includes the first core to PlutusScript – the programming language used for smart contracts on the Cardano blockchain. Plutus was introduced in the previous revision named Alonzo, which took place in September last year.
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“If we all do our jobs right, we’re going to wake up on September 22nd and it’s going to be another day,” Hoskinson said in a YouTube vlog. He later added:
“We started and we knew, over time, we could get to what Ethereum did, but we understood the road map to get there. […] There is a lot on the horizon, especially in 2023.”
The fork was released in 2010. Named in honor of Cardano community Bulgarian Vasil Dabov who died in 2021. Cardano’s ADA traded at $0.454 on Friday, up 0.98% from the previous week.