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Top Crypto News: ADA Finally Launches its Vasil Fork Update on Testnet

Top Crypto News: ADA Finally Launches its Vasil Fork Update on Testnet

It has been a while since the crypto community has been waiting for Cardano (ADA) to launch its Vasil update onto the system! Now, with the Cardano testnet hard fork complete, all that remains is to fork the mainnet. Forking the mainnet will be coming in, in about four weeks. As far as the reportings,  the forking will either take four weeks or as much time as the developers take to prepare their tools for the upgrade.

The highly anticipated Vasil hard fork has been a massive update for Cardano, bringing it one major step closer to becoming a reality on the mainnet and providing promising broad performance upgrades. Various project developers, stake pool operators (SPO), and exchanges are now encouraged to deploy their work on the testnet to ensure integrations run smoothly when the mainnet gets the Vasil treatment in about four weeks; according to CoinTelegraph.

Once the update is up on the mainnet, the Vasil hard fork will enable faster block creation and greater scalability for decentralized apps (dapps) running on the Cardano ecosystem. According to a CoinTelegraph report, the organization that produced Cardano, Input Output HK (IOHK), said in a tweet on July 3, 2022 that in addition to the performance upgrades, developers would benefit from “much-improved script performance and efficiency” and lower costs.

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

IOHK has also mentioned that there will not be a proposal to hard fork the mainnet until “ecosystem partners are comfortable and ready,”. However, the update is expected to come in about four weeks. The previous phase of the update, which was called Goguen, saw the launch of smart contract capabilities on Cardano. The Goguen update was advantageous for decentralized finance (DeFi) developers as they were launching dozens of dapp exchanges and DeFi protocols according to ecosystem tracker Cardano Cube.

Source: CoinTelegraph

What is Cardano?

Cardano is the third-generation, decentralized Proof-of-Stake(PoS) blockchain. The platform aims to address the issues related to Scalability, interoperability, and sustainability by being cost-effective, and environment-friendly with high throughput. 

The blockchain is been built in five stages namely, Foundation, Decentralization, Smart-Contracts, Scaling & Governance.   The native token of the Cardano blockchain is ADA which is named after 19th-century mathematician Ada Lovelace. 

UNIQUE FEATURES OF CARDANO

  • Cardano blockchain follows a layered architecture and is composed of 2 main elements, The Cardano Settlement Layer(CSL) & The Cardano Computational Layer (CCL). These interoperate and communicate easily while performing their functions. 
  • The key feature of the Cardano blockchain is its Ouroborous PoS which divides the time into epochs. Each epoch is handled by a set of validators and they are rewarded with ADA tokens
  • The platform claims to have a higher degree of decentralization as anyone can become a node validator on Ouroborous

Additional Read: Cardano (ADA) Deep Dive

Where can you buy Cardano(ADA)?

Investing in Cardano ADA is as easy as ordering food online with CoinDCX. If you are a beginner in crypto all you have to do is:

  • Download the CoinDCX app
  • Sign up*
  • Complete your KYC
  • Transfer your INR funds
  • Start investing!

Additional Read: How to invest in Cardano(ADA)


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