Cardano’s development company, Input Output Global, announced that it would delay the network’s long-awaited Vasil hardfork upgrade. The team claims to have seven bugs to fix and wants to “allow more time for testing.”
Cardano Postpones Vasil Upgrade
Input Output Global announced in a blog post late Monday that the launch date for Cardano’s Vasil hardfork would be pushed back from June 29 to the last week of July. “After some consideration, we have agreed NOT to send the hard fork update proposal to the testnet today to allow more time for testing,” IOG wrote, explaining that there were seven bugs to fix, none of which were deemed severe.
Cardano Hard Fork History. Source: Blockcrunch
The Vasil hardfork is the most important update to the Cardano ecosystem since the Alonzo hardfork was released last September. It is part of Cardano’s long-planned transition from the Goguen to the Basho era, dubbed “an era of optimisation, improving the network’s scalability and interoperability.” Whereas previous eras were concerned with decentralisation and introducing smart contracting capabilities to the network, Basho is concerned with improving Cardano’s underlying performance to better support DeFi applications.
Notably, the Vasil hardfork will introduce four key network improvements: CIP31, CIP32, CIP33, and CIP40. These upgrades are expected to overhaul the logic behind some of Cardano’s Plutus scripts, thereby minimising the size of transactions, increasing the network’s throughput and decreasing transaction fees. It’s hoped that the hardfork will also improve the “concurrency” issue, which severely hampered Cardano DeFi apps’ scalability.
“The work on Vasil has been the most complex program of development and integration to date, from several angles,” IOG wrote in the announcement, stressing that launching the upgrade will require significant coordination among the ecosystem’s stakeholders. IOG will leave four weeks between the scheduled testnet and mainnet releases to give exchanges and other ecosystem participants enough time to prepare.
Following the announcement, Cardano’s ADA token continues to stagnate within the $0.48 to $0.50 range.
