Charles Hoskinson, the creator of Cardano (ADA), has shared an update on the much-anticipated Vasil hardfork combinator event, an upgrade that has been postponed on two occasions over the last three months.
In a new video, Hoskinson told his teeming YouTube subscribers that a number of major crypto exchanges, including Binance, are currently working on the upcoming Cardano Vasil upgrade. He also expects more to follow in the coming days.
Charles Hoskinson noted:
“So the next major lift is to get the exchanges on board. Binance is reporting that they’re currently upgrading. By volume, I think that they’re about 30-40% of the Cardano trade volume. And other than that, Kraken and Coinbase and so forth tend to follow along.
Speaking further, Hoskinson mentioned the required percentage of Stake Pool Operator (SPO) nodes that need to upgrade to the latest version before a date can be set for the hardfork. He also said a few major exchanges are needed to make others feel the urgency.
“So what is probably going to occur is that once we hit that golden 75% of the SPOs and three to five of the major exchanges by volume, the top three or top five are upgraded or in the process of upgrading, a hard fork date will be set. Then, the rest of the exchanges feel the urgency and they start upgrading, and it’s really hard to get them otherwise. They tend to need a little bit of push for that.”
Read Also: Charles Hoskinson Wants Elon Musk to Make Cardano His Plan B If His Aim to Acquire Twitter Fails
In the video update, Charles Hoskinson said everything about the Vasil upgrade is currently working perfectly. Although integrations are still ongoing, the hardfork should be ready sometime in September.
“Things are moving along very quickly. Extensive testing are still being done by the community and still by us. A lot of integration work is happening behind the scenes, so all of that infrastructure is looking good.
“Hopefully, we should be able to work with the community and get a hard fork date set soon. We’re going to have a meeting with the SPOs here in a little bit… So sometime in September is what it looks like, unless something is discovered or we run into a substantial slowdown somewhere.”
Follow us on Twitter, Facebook, Telegram, and Google News
The story of a high school student turning a small Bitcoin investment into millions is…
The cryptocurrency market is witnessing significant dynamics across various tokens, each at different stages of…
Shiba Inu's layer-2 blockchain solution, Shibarium, recently underwent a successful hard fork. This significant upgrade…
RippleX, the development arm of Ripple, has introduced a major advancement on the XRP Ledger…
Recent speculation about Elon Musk's X social media platform testing XRP payments has been dispelled…
The cryptocurrency community recently witnessed a noteworthy event involving Shiba Inu (SHIB). Whale Alert, a…