While The Merge is expected to take place in just over ten days’ time, Cardano’s hard fork called Vasil now has a scheduled date. Cardano’s highly-anticipated fork will be held on September 22nd, nine days after Ethereum goes from proof-of work (PoW), to proof-of stake (PoS).
Cardano Devs will Launch Vasil on Mainnet within 19 Days
Cardano’s development team disclosed a hardened date for the upcoming Cardano (ADA) hard fork called Vasil, following Input-Output Global (IOG) founder Charles Hoskinson explaining it would happen in September during a live stream on Twitter last week.
On Twitter, IOG’s official social media account told the public that the “Vasil upgrade date [was] confirmed.” The developers noted that the codebase merge will follow “successful completion [and] extensive testing of all core components.”
IOG explained further that the fork would become part of the mainnet codebase starting September 22. IOG added:
Vasil, the largest Cardano upgrade so far, brings increased network capacity as well as lower transaction costs. Plutus will be upgraded to allow developers to build more efficient and powerful blockchain-based apps.
Cardano Founder Charles Hoskinson Says Vasil Is the ‘Hardest Update We’ve Ever Had to Do as an Ecosystem’
Charles Hoskinson, founder of IOG, also spoke out about the Vasil hard fork dates in a live stream on Twitter called “Vasil is Coming September 22nd, 2022.” The hard fork’s name Vasil comes from a Bulgarian Cardano community member and mathematician, Vasil Dabov, who recently passed away.
Hoskinson commented on live streaming that Hoskinson found it amazing that the fork date was chosen randomly and fell on the Independence Day of Bulgaria. Four Cardano Improvement Proposals (CIPs) are being added to Cardano’s (ADA) codebase.
Vasil will assign CIP-31-32 (Inline Datums), CIP-33-2 (Reference Inputs), CIP-33.3 (Reference Scripts) and CIP-40(Collateral Outputs) during the implementation. It was said by IOG developers last May that CIP-31’s reference scripts will reduce ADA’s transaction costs.
Cardano (ADA), which has gained 2.3% over the USD during the 24 hour period following the announcement was published at the time this article was written. ADA has risen by close to 10% over the past 7 days. ADA currently holds the eighth-largest crypto market capitalization at $16billion.
IOG and Charles Hoskinson announce Vasil hardfork launch date. What are your thoughts? Comment below and let us know how you feel about the subject.
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