After a series of holdups and postponements, the Input Output Global (IOG), the entity tasked with the development of Cardano (ADA), has announced that the Vasil hardfork has been successfully deployed on the mainnet.
#Vasil mainnet HFC event successful!🍾
We’re happy to announce that today, at 21:44:00 UTC, the IOG team, in collaboration with the @CardanoStiftung, successfully hard forked the Cardano mainnet via a HFC event, thus deploying new #Vasil features to the chain.
— Input Output (@InputOutputHK) September 22, 2022
Before the launch was triggered, testing was successfully conducted to confirm the readiness of the upgrade. Also, top exchanges such as Binance made good progress on their updates.
Prior to the announcement, IOG said, “we are confident we will be able to proceed with triggering the hard fork at the appropriate time,” the release said. Community members have also shown their eagerness for the activation of the most complex and ambitious update program for Cardano to date.
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What Vasil Hardfork Brings to the Cardano Blockchain
While the Alonzo upgrade introduced several new possibilities for decentralized applications (DApps), decentralized exchanges (DEXs), and decentralized finance (Defi) solutions development on the Cardano blockchain, the Vasil upgrade comes is to scale and optimize the ledger to facilitate efficient development for a range of new applications on the smart contract platform.
According to an update from the Input Output Global team, the Vasil upgrade “will bring significant improvements using Cardano’s hard fork combinator (HFC) approach and enhance the network’s performance by increasing throughput, script efficiency, and reducing latency in block transmission.”
In the recent update, IOG also said, “Vasil will bring a number of benefits to Cardano including more efficient, more powerful smart contracts via new Plutus V2 improvements.”
Related: Binance.US Confirms Support For Cardano Vasil Hardfork
“Full Vasil capability will become available on the 27th of September, along with the activation of the Plutus V2 cost model, delivering lower transaction costs for smart contracts,” the team added.
It is worth noting that the upgrade is named after the late Vasil St Dabov, a Bulgarian mathematician and a top member of the Cardano community. Preceding upgrades on the Cardano blockchain include Shelley, Allegra, Mary, and Alonzo. Charles Hoskinson, the Cardano founder and CEO of IOG recently noted that Cardano is changing the world and its best days are ahead of us.
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