Cardano IOG Says It Is Close To Clinching All Set Metrics To Trigger The Vasil Upgrade This Week

The Vasil hard fork is closer than ever.

In a tweet on Wednesday, as part of its midweek update on the progress with the Vasil hard fork upgrade, Input Output Global (IOG), the development team behind the Cardano network reveals that it is close to clinching all 3 set metrics to judge the community’s readiness for the upgrade.

“This week, we’re well on our way to hitting our indicators. Over 80% of SPOs have upgraded and more than 70% of the top DApps we’re tracking have confirmed successful pre-production testing,” the team writes.

This week, we’re well on our way to hitting our indicators. Over 80% of SPOs have upgraded and more than 70% of the top DApps we’re tracking have confirmed successful pre-production testing.✅4/8

— Input Output (@InputOutputHK) August 31, 2022

In addition, IOG notes that exchanges are also working on updating their nodes. According to the team, the Cardano Foundation is in daily contact with these exchanges, providing support. It noted that two more exchanges confirmed readiness for the upgrade on Wednesday, with 27 others in the process, 5 of which it says are in the top 10 for ADA liquidity.

Again the team emphasizes its focus on getting things right with the upgrade as it asserts that the Vasil hard fork is the most significant Cardano upgrade to date. 

?The #Vasil upgrade is the most significant to date for #Cardano, and our focus remains on doing this correctly, in a manner which is safe and secure. 7/8

— Input Output (@InputOutputHK) August 31, 2022

The three metrics being tracked by IOG are; the percentage of mainnet blocks produced by the final node version, for which the team set the bar at 75%, and the number of upgraded exchanges for which the bar is set at 25 to represent about 80% of liquidity, and the upgrade of the top 10 dApps on the network by TVL. On Monday, the team disclosed the network had met the first requirement.

In response to the latest updates from IOG, several users expressed excitement, while others questioned why Coinbase is yet to start the process of updating its nodes.

Yo @CoinbaseSupport @coinbase what’s the delay with getting onboard with the upgrade.

— Dillon Chan (@dillon_chan) August 31, 2022

The long-anticipated Vasil hard fork was first slated for lunch at the end of June but has since faced several delays. Notably, the most recent delay at the end of July came after bugs were discovered in node 1.35.0 that led to the creation of 3 different software scripts, with IOG finally settling to go ahead with version 1.35.3 for the upgrade.

The upgrade promises to improve the network’s scalability and throughput through pipelining while improving dApps and smart contract capabilities through changes to the Plutus script.