Cardano founder Charles Hoskinson has shared more details about Vasil’s hard fork history. As always, the founder, speaking on the Youtube channel, conveys the work behind the scenes.
Cardano vasil hard fork date clarified
If all goes according to plan and there are no problems, Cardano founder Charles Hoskinson predicts that the Vasil hard fork update will happen in September. To decide on a time for Vasil’s hard fork, IOHK will consult with the Cardano community. The team will also meet with Stake Pool Operators (SPO) to get an update on the parties’ preparations.
It's bizarre and alarmist seeing these videos floating around that things are being rushed with 1.35.3. The code in question has been thoroughly tested for months by everyone including SPOs. The code that was an issue on the testnet has been removed.
— Charles Hoskinson (@IOHK_Charles) August 19, 2022
Expected Cardano and Ethereum updates will coincide
In a video posted on August 26, Charles Hoskinson confirmed that the Vasil hard fork will most likely take place in September. The integration and infrastructure is under extensive testing with 1.35.3 nodes by the community and developers. Also, minor bugs that will cause major trauma are already being cleared to be fixed:
Things are moving pretty fast. Extensive testing is done by both the community and us, and a lot of integration work is done behind the scenes.
Vasil Update 08-26-2022 https://t.co/cyRgTkYA9n
— Charles Hoskinson (@IOHK_Charles) August 26, 2022
Background work
The team will coordinate with the Cardano community to select a September time for the Vasil hard fork. They will also hold SPO meetings to get updates on Vasil hard fork preparations. Exchanges will also be required to raise it to 1.35.3 to provide liquidity.
According to PoolTool data, DPTs running 1,35.3 nodes generated 53% of the mainnet blocks produced in period 359. To implement Vasil on the Cardano mainnet, IOHK wants SPOs running 1.35.3 to produce 75% of the blocks. Additionally, IOHK will announce the hard fork date when the top 5 crypto exchanges by volume finish upgrading 1,35.3 nodes and the biggest dApps report successful tests against it. 30-40% of ADA trading volume is provided by Binance, which recently announced that it has increased to 1,35.3.
Cardano engineer Adam Dean also stated yesterday that the Vasil hard fork will happen sooner than expected. You can find everything you need to know about Vasil’s hard fork, which we prepared as Kriptokoin.com.
Cardano price analysis
The principle target of bulls who want to evaluate the update news will be $0.55. On the other hand, despite the setback brought by Fed Chairman Jerome Powell’s aggressive stance on rate hikes, the ADA price is still rising strongly. Ahead of the hard fork in September, the ADA price will soon head towards $0.55. Meanwhile, the ADA price only needs a 25% move to do this. Also, there are higher hopes for the Cardano Vasil hard fork, which will take place at the end of September.
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