The Vasil Upgrade is in the pipeline after the Alonzo upgrade began to see the light by bringing many new possibilities for decentralized applications, decentralized finance, and decentralized exchanges. The Vasil Upgrade is expected to improve the network and enhance its performance.
For these purposes, it will look to leverage Cardano’s Hard Fork Combinator approach and increase the throughput, script efficiency & reduce latency in the block transmission. The upgrade takes inspiration from the late Vasil St Dabov, a loved & respected Cardano community member, for its title.
To share a synopsis at the moment, developers are working on the final phase that includes testing the final integration and upgrading before the Hard Fork Combinator event. 1.35.3, a node release candidate, has already been delivered and other downstream components have already been updated.
The community of developers and SOPs have access to the testing environment that consists of four phases, each serving a different purpose with a different ledger era.
|This is an early testing phase that may be re-spun regularly by developers as it is bound to be short-lived as compared to others.
|Preview lasts longer than Vasil Devnet to offer ample opportunities to increase data history for test expansion.
|It is tasked with matching the configuration of Mainnet for the final stage.
|Only the official mainnet is released with the live production network.
|V1 and V2 (cost model)
|V1 and V2 (cost model)
The upgrade will be triggered based on certain factors as they will signal the confidence of the ecosystem being ready for it. IOG and Cardano Foundation will track the below-mentioned mass indicators:-
- Nearly 25 exchanges representing 80% ADA liquidity must have been upgraded.
- Creation of 75% of mainnet blocks by the Vasil node candidate, 1.35.3.
- A confirmation from the top ten decentralized applications that they have upgraded to 1.35.3 on Pre-Production and are ready to proceed to the Mainnet phase.
The IOG team will stick to its collaboration with the Cardano Foundation and proceed with the final upgrade only when there is a clear sign of all the elements being comfortable and ready.
Exchanges will receive support from the Cardano Foundation, and users can track the status of their favorite exchange. The objective is to ensure the network liquidity aligns with a hard fork event.
While the ADA holders will not face any issue with the Vasil hard fork, they must still brace themselves for unexpected disruptions like delays or service-related problems. Moreover, Cardano holders might get significant return after the upgrade as most analysts expect that The Vasil Upgrade may impact ADA price positively. According to our ADA price prediction, traders should add Cardano to their portfolios to earn hefty profits in the near term.
The 25 exchanges shortlisted to trigger the hard fork event are Binance, Coinbase, Upbit, WhiteBit, OKex, HiBTC, BKEX, Dcoin, Kucoin, Kraken, Huobi, etc.
Users who experience difficulty with the upgrade can get in touch with the support team by logging a support ticket with their respective exchange. Or, they can simultaneously review the recent announcements posted by the exchanges.
The community is still building on the upgrade, with many more updates to come in the future. The priority will be to wait for the top ten decentralized applications to confirm that they have upgraded to 1.35.3 at the Pre-Production level and are all set to proceed to the Mainnet level.