After several months of delay, the Cardano Vasil upgrade and hard fork finally went live on Thursday at 9:44 p.m. UTC, bringing “significant performance and capacity enhancements” to the blockchain.
The success of the Cardano mainnet hard fork was announced by blockchain company Input Output Hong Kong (IOHK) on Twitter on Thursday, while others also followed suit. saw A hard fork ticked off the live Twitter space with Cardano co-founder Charles Hoskinson.
#vasily Mainnet HFC event successful!
We are pleased to announce that today, at 21:44:00 UTC, the IOG team, in collaboration with @CardanoStiftungSuccessfully hard forked Cardano mainnet via HFC event, thus deploying new #vasily Features for the series.
– Input Output (@InputOutputHK) 22 September 2022
IOHK previously stated that the key upgrade brought by the fork is block transmission without full verification, allowing for faster block creation. Upgrading its Plutus smart contracts for increased efficiency allows decentralized applications to be deployed and run at low cost.
Better buy some mouthwash. Vasil is live. Anyone have recommendations for Greg 🙂 https://t.co/RTehxad97Z
— Charles Hoskinson (@IOHK_Charles) 22 September 2022
The new capabilities brought by the Plutus Script upgrade will become available to developers on the mainnet on September 27, after an era that currently lasts about five days.
Bill Barhide, founder of crypto trading platform Abra, called the upgrade a “big win for developers” with decentralized finance platform Genius Yield. Tweet It was “one of the most complex and consequential updates ever made to the Cardano network.”
Congratulations to the Cardano ($ADA) team on Vasil Hardfork. More hard work in crypto payments.
Making the UTXO and input accessible to scripts/Plutus without incurring costs is a huge win for developers. Great!
— Bill Barhyd (@billbarhydt) 22 September 2022
The upgrade date was announced by IOHK in early September, while the need for “critical mass indicators” to trigger the hard fork was reached in the 24 hours leading up to the event.
related: Ethereum Post-Merge Hard Forks Are Here: Now What?
This comes after months of delays and rescheduling, with launch day originally scheduled for June, it was delayed twice due to issues on the testnet due to a bug in the prior node version creating compatibility issues.
Following the Vasil upgrade, Cardano continues to develop its layer-2 scaling solution, the Hydra Head protocol, which processes transactions from the Cardano blockchain while still using it as a security and settlement layer.
The price of the Cardano coin ADA has increased by almost 4% to $0.46 in the last 24 hours as per the successful launch announcement. coingeco data, although it is still down more than 4.5% in the week.