HomeBusinessCardano Vasil upgrade successfully launched on testnet

Cardano Vasil upgrade successfully launched on testnet

Vasil’s highly anticipated hard fork has been completed on the Cardno testnet, bringing it one step closer to its mainnet reality and promising vast performance improvements.

Project developers, stake pool operators (SPOs), and exchanges are now encouraged to deploy their work to the testnet to ensure integrations run smoothly when the mainnet gets the Vasil treatment in about four weeks.

Once completed on the mainnet, the Vasil hard fork will enable faster block creation and greater scalability for decentralized applications (dapps) running on Cardano. Input Output HK (IOHK), the organization that produced Cardano, said on July 3 Tweeter that in addition to performance improvements, developers would benefit from “significantly improved performance and scripting efficiency” and reduced costs.

Vasil will also enable interoperability between Cardano (ADA) sidechains, one of the main features the developers intend to launch in the current Basho phase of blockchain development. Basho is the fourth development phase of Cardano which focuses on scaling and will be followed by the Voltaire phase, in which governance will be the main focus.

IOHK also noted that there won’t be a hard fork proposal on the mainnet until “ecosystem partners are comfortable and ready”, but that should happen in about four weeks.

The previous phase, Goguen, saw the launch of smart contract capabilities on Cardano, which decentralized finance (DeFi) developers have taken advantage of by launching dozens of dapp exchanges and DeFi protocols according to the Cardano ecosystem tracker. Cube.

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The top Cardano application with $49.7 million in total value locked (TVL) is currently the decentralized exchange (DEX) WingRiders, according to DeFi data compiler DeFi Llama.

The testnet hard fork did little to move ADA as it only rose 0.1% in the past 24 hours to $0.45, according to CoinGecko.