Cardano Delays Vasil Hardfork by “a Few More Weeks”

by Arthur · July 29, 2022

Table of Contents

Important takeaways

Cardano’s CTO Kevin Hammon has said it could be “a few more weeks” before the network rolls out the Vasil upgrade.
Vasil is Cardano’s most complex upgrade to date, aimed at improving the network’s scalability.
It was originally intended to launch on June 29, but has suffered two delays to allow more testing time.

Cardano’s core technology program manager, Javier Franco, has said that the team’s priorities are to ensure things are “done right”, even if it takes more time to launch the Vasil hard fork.

Cardano delays Vasil Hardfork again

After failing to launch last month, Cardano’s Vasil hard fork has been delayed again.

Kevin Hammon, CTO of Cardano developer Input Output Global, said in a Thursday interview that the much-anticipated Vasil upgrade would be delayed to complete testing and ensure a “smooth process.” He added that it could be “a few more weeks” before the update is ready to go live.

According to Input Output’s core technology program manager Javier Franco, the Vasil hard fork is Cardano’s “most significant update” to date. “There are a lot of moving parts, a lot of dependencies,” he said, explaining that the team’s priority is to make sure “things get done right” even if it takes more time to start the upgrade.

The hard fork was originally scheduled to go live on June 29, but as the deadline approached, Input became Output moved target post to the last week of July to “allow more time for testing.”

The upgrade promises to significantly increase Cardano’s scalability. Input Output has previously stated that it is the most complex task Cardano has taken on to date. Besides the sheer technical complexity of the code itself, the upgrade requires significant coordination between ecosystem stakeholders to ensure a smooth transition.

Cardano is the world’s eighth largest cryptocurrency with a market capitalization of around $17.5 billion. However, despite being one of the crypto industry’s oldest and best-known Layer 1 smart contract networks, it has failed to build a vibrant DeFi ecosystem like many of its direct competitors. According to data from Defi Llama, it has approximately $136.65 million in total value locked up. Ethereum, the largest smart contract network, has close to $57.44 billion, while Solana has $2.69 billion.

Cardano’s native token ADA was largely unaffected by the Vasil postponement news. According to CoinGecko data, it is currently trading at $0.52, up 5.7% on the day.

Disclosure: At the time of writing, the author of this piece owned ETH and several other cryptocurrencies.

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representations or warranties as to the timeliness, completeness or accuracy of information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not provide personal investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may be out of date, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update outdated, incomplete or inaccurate information.

You should never make an investment decision on an ICO, IEO or other investment based on the information on this website, and you should never interpret or otherwise rely on the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice about an ICO, IEO or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sale, securities or commodity.

See full terms and conditions.