Cardano is gearing up for the long-awaited Vasil upgrade, which according to the blockchain research company Input Output Hong Kong (IOHK), created in 2015 by Cardano’s co-founder Charles Hoskinson and Jeremy Wood, is just around the corner.
In a series of tweets, the IOHK unveiled that the Vasil upgrade will take place on Sep. 22 after being postponed in June.
Following the successful completion & extensive testing of all core components, plus confirmed community readiness, we along with @cardanostiftung can today announce 22nd September for the #Vasil upgrade on the #Cardano mainnet,the opening tweet reads.
The company notes that Vasil is the most important Cardano upgrade to date as it looks to increase the platform’s capacity and lower the cost of transactions, while adding enhancements to Plutus so that
developers can create more powerful and efficient blockchain-based applications.
According to the IOHK, it has used three metrics – ?75% mainnet blocks being created by the final Vasil node candidate (1.35.3), ?Approx. 25 exchanges upgraded (c. 80% of ADA liquidity), ?Top 10 DApps by TVL confirming readiness – to assess the preparedness of the system. And all of them seem to be in good order.
The company underscores that this upgrade is a significant event for Cardano’s community, which is why it decided to poll its representatives. As a result of this survey, the members of the SPO and Dapp communities confirmed that they are confident that the system is ready for the upgrade.
“The majority of leading exchanges have now started their update process. Based on current trajectory & previous experience, @CardanoStiftung has every confidence in them completing their updates & meeting the 80% liquidity metric set,” the IOHK noted, saying that it anticipates a seamless transition that will require no action from the users.
It adds that this upgrade is more than a testament “to the hard work of the core development team” as the company also benefited from the multiple technical contributions of the wider Cardano Community, which contributed its proposals via Cardano Improvement Proposals.
The upgrade is named after the late Vasil St. Dabov, a Cardano Ambassador who also was an artist, and gynecologist.
