Cardano’s much anticipated Vasil hard fork is live now, with all three “critical mass indicators” met. This upgrade is a crucial milestone in Cardano’s roadmap and will enable the network to move forward with its plans to become a leading smart contract platform.
#Vasil mainnet HFC event successful!🍾
We’re happy to announce that today, at 21:44:00 UTC, the IOG team, in collaboration with the @CardanoStiftung, successfully hard forked the Cardano mainnet via a HFC event, thus deploying new #Vasil features to the chain.
— Input Output (@InputOutputHK) September 22, 2022
In preparation for the hard fork, IOHK has been working closely with exchanges and other ecosystem partners to ensure a smooth transition.
According to a blog post, Vasil is set to enhance several aspects of the Cardano blockchain, making it faster and more sophisticated. This will enable applications built on Cardano to become easier to build upon while improving the user experience. It will also enhance the network’s scaling capabilities and lower transaction fees.
Even though the upgrade has been delayed twice, IOHK has been working closely with exchanges and other ecosystem partners to ensure a smooth transition. Last month, Cardano developer Adam Dean said that the testnet for blockchain was “catastrophically broken” due to a compatibility problem with the current version of client software. Dean warned people that if there were something like a “nuclear clock” for Cardano, it would be very close to hitting midnight.
So far, 13 exchanges have confirmed their readiness for the hard fork, representing over 87% of Cardano’s liquidity.
Coinbase is the only major exchange still listed as “in progress” on IOHK’s ecosystem readiness page. However, the exchange’s recent tweet has suggested that it will soon support the fork, stating that ADA transactions will be closed for maintenance “for the Cardano Vasil hard fork.”
More than 98% of mainnet blocks are now being created by the updated nodes, while the blockchain’s top decentralized applications (DApps) have also confirmed their readiness.
In the seven days since news of the upgrade was announced, social media chatter about ADA has increased by almost 40%, third behind Ethereum and Ripple (XRP).