Today is the big day for Cardano to implement the long-awaited Vasil hard fork. Whales are also taking notice as they are seen collecting ADA at the last minute. According to whalestats Data, hours after the Vasil upgrade, shows the ADA is back in the top 10 purchased assets for the top 100 BSC whales.
– WhaleStats – Top 1000 BSC Richlist (@WhaleStatsBSC) September 21, 2022
According to Carolyn Talling“Today, 22 September is a historic moment for Cardano ADA, with the Vassil upgrade taking place at 21:44 UTC,” the Husky Pool founder said.
Top crypto exchange Binance has indicated support for the Vasil hard fork, which will happen in two phases, at epoch 365 and epoch 366, respectively.
According to an update, the Vasil network upgrade will happen on epoch 365 or about September 22 at 9:45 pm (UTC). It states that deposits and withdrawals of ADA will be suspended one hour prior to this time.
The Plutus V2 cost model network upgrade will occur at epoch 366, or approximately September 27, at 9:45 pm (UTC). In this case, deposits and withdrawals of ADA will be suspended from approximately September 27 at 8:45 pm (UTC).
Binance says it will reopen deposits and withdrawals for ADA once the upgraded network stabilizes. Meanwhile, trading of ADA will not be affected during network upgrades and hard forks.
happy vasil day
Vasil will introduce a new version of Cardano’s native smart contract language, Plutus. The IOG team and the Cardano Foundation have been preparing for the upgrade for months and are working to give many in the crypto industry the beginning of a new era for the five-year-old platform.
After Vassil has been on for a few days, Plutus V2 is expected to go live next week. Due to complex modifications made to Cardano’s ledger, scripting contracts will now be able to employ input and unspent transaction output (UTXO), reducing the size of transactions that previously caused latency.
Simply put, complex upgrades are all about improving security and audits, according to Cardano’s technical director. Matthias Bencourt.