The blockchain’s fifth upgrade, which will be the latest, will enhance the Plutus programming language and promises increased scalability at cheaper costs.
Charles Hoskinson, the creator of the blockchain, stated Friday on his YouTube vlog that Cardano has selected September 22 as the date for its Vasil mainnet upgrade. The hard fork has been postponed twice since it was initially slated for June of this year.
Three crucial critical mass indicators have been met, according to Input Output Hong Kong (IOHK), a Cardano-affiliated R&D business that worked on the update.
“1. 75% of mainnet blocks being created by the final Vasil node candidate (1.35.3) 2. approximately 25 exchanges upgraded (representing 80% of ada liquidity) 3. top 10 DApps by TVL confirming they have upgraded to 1.35.3 on PreProduction and are ready for mainnet.”
MEXC and Bitrue are “ready” for the update, while Binance is “almost there” and Upbit, Coinbase, WhiteBit, BKEX, and HitBTC are “in progress” according to IOHK’s analysis of the top 12 cryptocurrency exchanges.
Developers have promised increased scalability and cheaper fees from the hard fork, which will contain the first major improvement to the Plutus script — the programming language used for smart contracts on the Cardano blockchain. Plutus was first introduced in the Alonzo upgrade, which was made in September of the preceding year.
On his YouTube video, Hoskinson stated,“If we’ve all done our job right, we will wake up on Sept. 22, and it will be just another day,” He later added:
“We started and knew that, over time, we could get to what Ethereum has done, but we understood a road map to get there. […] There’s a lot of things on the horizon, especially in 2023.”
Vasil Dabov, a deceased Cardano community member from Bulgaria who passed away in 2021, is remembered by the fork’s name. The price of Cardano’s ADA on Friday is $0.48, up 5.57% over the previous 24 hours.