Wednesday, June 29, 2022
HomeCryptocurrencyCardano Creator Says Terra (LUNA) Collapse Prompted Vasil Upgrade Postponement

Cardano Creator Says Terra (LUNA) Collapse Prompted Vasil Upgrade Postponement

Charles Hoskinson, the CEO of Input Output Global (IOG), has revealed that the postponement of the Vasil hard fork was prompted by the historic collapse of the Terra (LUNA) ecosystem.

Recall that IOG, the firm behind the development of Cardano (ADA), announced a few days ago that Vasil hard fork combinator event will no longer play out in June as planned. It was rescheduled to launch in the last week of July.

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According to Hoskinson in a recent video, the update is ready but the team was cautioned to exercise more patience before releasing major products following the crash of the algorithmic stablecoin TerraUSD (UST) and Terra (LUNA).

Charles Hoskinson noted:

“We’re code-complete and what code-complete effectively means is you probably could flip the switch and get away with it. And certain projects would do that.

“But what happened after the collapse of Terra (LUNA) is that I gave a directive to a lot of the engineers to say we should probably measure three times and cut once, given the nature of things.

“And so additional tests were added in the Plutus suite and additional work was done for quality assurance above and beyond what we normally do for hard forks. So that was one dimension of the puzzle that made it more complicated.”

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Hoskinson also said there was a need for a little delay to give room for quality assurance and testing process by the developers of decentralized applications (Dapps).

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“The other dimension of the puzzle was that after Consensus, we did have an enormous amount of contact with DApp developers and other people and there was a desire to be a bit more inclusive in the quality assurance process and the testing process.

“So a lot of them said, ‘hey we need several weeks on testing, to be able to play around with these things.’”


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Solomon Odunayo
Solomon Odunayo
Solomon Odunayo is a cryptocurrency journalist with over 3 years of experience in the crypto industry. He's sternly interested in covering developments of emerging and established blockchain projects.
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