Cardano (ADA), the smart contract platform built on a proof-of-stake consensus protocol, is gearing up for its next hard fork. The Vasil Hard Fork is expected to happen in late July and will introduce several important changes to the Cardano network.
One of the most anticipated one is the introduction of enhanced scaling by including pipelining that will improve block diffusion. Pipelining is a technique that allows for the processing of multiple transactions at the same time. This will help to reduce the overall time it takes to confirm a transaction, and will also increase the overall throughput of the network. In addition, the hard fork will also enable additional support for smart contracts on the Cardano blockchain.
Meanwhile, Cardano’s developer Input Output– said in a recent announcement that the network’s node 1.35.0 has been released.
The Cardano development team also says that it is making great progress on the road to the Vasil hard fork and that the release of the node is an “important milestone” on this journey.
The team also notes that it is now preparing for the release of the Cardano testnet and that this update proposal will be submitted as soon as more than 75% of block-producing stake pool operators on the testnet have upgraded, thus ensuring the required level of chain density.
Chain density is one of the key parameters in blockchain design and performance. It represents how many transactions can be stored in a single block, and how big those blocks can be. A higher chain density can lead to better performance and scalability.
We’ll give testnet SPOs the time they need & as soon as more than 75% of block-producing SPOs on the testnet have upgraded – needed for satisfactory chain density for the hard fork – we’ll submit the testnet update proposal, which will take one complete epoch to take effect.
— Input Output (@InputOutputHK) June 25, 2022
The Vasil hard fork was originally scheduled to launch in late June, but it was postponed due to the challenging task of transferring solutions built on the current version of the blockchain to a new foundation. According to the updated schedule however, the upgrade, as mentioned, is now expected to happen in late July.
Once completed, the hard fork will enhance the range of DEXs, DeFi, as well as smart contracts. Therefore, the release of the node is a crucial step in ensuring that the upgrade goes smoothly.
It goes without saying that we are looking forward to seeing the final results of the Cardano development team’s hard work!
As of press time, the $17.5 billion market cap altcoin is changing hands at $0,52, up about 6.50% intraday.
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