Vasil Upgrade is being postponed by Cardano developers.
The upgrade that was supposed to bring the Cardano network into the new “Basho” era has been postponed.
Cardano’s native coin, ADA, is a public and decentralized proof-of-stake blockchain that competes directly with Ethereum. The so-called Vasil hard fork, which aims to make Cardano’s network more scalable, is set to happen on June 29.
However, IOG’s head of delivery and products, Nigel Hemsley, noted in a June 20 blog post that the network upgrade “should not be rushed.”
- “The IOG engineering team is extremely close to finalizing the core work, with just seven bugs still outstanding to complete the hard fork work, with none currently ranked as ‘severe’”, Hemsley said. “After some consideration, we have agreed NOT to send the hard fork update proposal to the testnet today to allow more time for testing,” he added.
Before going live, the developers want to make sure everything is working properly, emphasizing the importance of quality and security. IOG and the Cardano Foundation plan to hard fork the testnet by the end of June, according to the amended schedule.
After that, it will take about four weeks for cryptocurrency exchanges, stake pool operators, and other ecosystem partners to integrate and test the new upgrade. Before the hard fork goes live on the Cardano mainnet in the last week of July, at least 80% of trading platforms must be compatible. Hemsley stated, “This puts us behind schedule on our previously publicized goal date of June 29 for a mainnet hard fork.”
IOG stressed that there are no “absolute” timelines in software development.
The Vasil hard fork, named after Bulgarian mathematician Vasil Dabov, promises to implement four key network enhancements that will boost throughput and lower transaction fees. It’s also expected to tackle the concurrency problem that has hampered the scalability of decentralized finance apps on the Cardano network.
“From multiple perspectives, the work on Vasil has been the most complicated program of development and integration to date,” IOG said in the statement, adding that launching the hard fork will necessitate extensive collaboration throughout the whole ecosystem.
The news of the postponement has had little impact on the price of ADA. At press time, the token was hanging at $0.5, up 1.01 percent on the day, as its market cap climbed above $17 billion.
